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Hemant Soren calls withdrawal of Rs 2000 note a "purely political decision" like demonetization

  • Hemant Soren claimed that the decision to remove the Rs 2,000 note from circulation was a “political decision” akin to demonetization
  • The RBI has given a deadline of September 30 for the exchange or deposit of existing Rs 2000 currency notes
  • It remains to be seen how the removal will affect the economy and the general public

21 May 2023

Hemant Soren calls withdrawal of Rs 2000 note a

Hemant Soren, the chief minister of Jharkhand, claimed on Sunday that the decision to remove the Rs 2,000 note from circulation was a “political decision” akin to demonetization.

The Reserve Bank of India (RBI) stated that the existing notes in circulation can either be deposited in bank accounts or exchanged by September 30 after announcing the removal of Rs 2,000 currency notes on Friday.

“This (withdrawal of Rs 2,000 currency notes) was a purely political decision like the 2016 demonetization to protect their (BJP’s) political identity but they stand exposed before the masses. Unfortunately, the life span of the Rs 2,000 currency note was just six to seven years,” he said at an event here.

Soren asserted that the demonetization had resulted in the closure of over 2 lakh small and medium-sized businesses.

”Every commodity has a life including cameras and mobile phones but unfortunately the life of the Rs 2,000 currency note lasted for only six seven years,” he said.

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