New Rs.2000 May Be Phased Out Soon, Says RSS Ideologue S.Gurumurthy

With a noble intention of curbing black money PM Modi has taken a revolutionary step of banning old Rs.1000 and Rs.500 notes. Simultaneously, RBI introduced higher denomination of Rs.2000 currency note. Many raised their eye brows and questioned the rationale behind introducing such higher denomination if the government wishes to curb black money.

Mean while, few people to avoid the clutches of demonetisation used illicit means and hoarding large amount of black money in new Rs.2000 currency notes. Recent IT raids revealed the scale of currency they hoarded.

But here is a bitter news for them along with others who are in a plan of hoarding new Rs.2000 currency. Journalist, Charted accountant and RSS ideologue S.Gurumurthy told that the new Rs.2000 notes would be phased out from the system in the coming 5 years.

Modi's governmnet use to consult Gurmurthy on several issues. In the light of it, his latest statement has enough significance. He opined that Rs.2000 denomination would only work as bridge in place of banned currency for time being.

He also told that GOI may not announce Rs.2000 denomination as illegal like Rs.1000 and Rs.500 but will gradually replace them by currency of lower denomination.