Naidu Requests the Center to Scrap 2000 and 500 Rupee Notes

On 13th May, the Chief Minister of Andhra Pradesh N Chandrababu Naidu requested the Central Government to scrap the new Indian currency with the denomination of 2000 and 500, in order to popularize and propel the digital payment avenues.

He revealed that he was the first among the few who had initially requested the scrapping of 1000 and 500 rupee notes. In face of a hawala racket that was busted in Vizag, he has now come up with this new request.

According to him a whopping sum of INR 1370crores was sent through the hawala route. He confessed that post demonetization when he had requested the RBI to send additional currency it seemed to be disappearing mysteriously. Now with the busting of the hawala racket the mystery has finally been solved.

While elaborating on this hawala scam, he indirectly took a dig on YS Jaganmohan Reddy, the president of YSR Congress, saying that he is still wondering as to who the mentor of all the fake companies are that were formed to create the various transactions.

He added that such events are tarnishing the image of the state, which is why his government is going to deal with such trouble makers with a tough hand.
In November 2016, Prime Minister Narendra Modi had abolished the 1000 and 500 rupee notes which was later followed by the introduction of new 2000 and 500 rupees notes.