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Tag: black money

  • Rs 2,000 note only helped keepers of black money, says Chidambaram

    Rs 2,000 note only helped keepers of black money, says Chidambaram

    New Delhi: Hitting out at the Centre’s move to withdraw the Rs 2,000 banknotes from circulation, senior Congress leader P. Chidambaram on Monday said that the Rs 2,000 denomination note “only helped keepers of black money to hoard their money with ease”.

    Taking to Twitter, the former Union Minister said: “Banks have clarified that no identity, no forms and no proof will be required to exchange the Rs 2,000 notes

    “The BJP’s spin that the Rs 2,000 notes are being withdrawn to unearth black money stands demolished

    “Ordinary people do not have Rs 2,000 notes. They shunned it soon after it was introduced in 2016. They were useless for daily retail exchange

    “So, who kept the Rs 2,000 notes and used them? You know the answer

    “The Rs 2,000 note only helped keepers of black money to hoard their money with ease. The keepers of Rs 2000 notes are being welcomed on a red carpet to exchange their notes!

    “So much for the government’s declared objective of rooting out black money. The Rs 2.000 note was a foolish move in 2016. I am glad that the foolish move is being withdrawn at least 7 years later.”

    His remarks came after the State Bank of India on May 20 issued a clarification regarding the exchange of Rs 2,000 currency notes.

    In a circular, the SBI said that people will not be required need to fill out requisition forms if a person wishes to exchange their Rs 2,000 currency notes up to the limit of Rs 20,000 at a time.

    On May 19, the Reserve Bank of India (RBI) had announced to withdraw the 2,000 bank notes from circulation and also said that it will continue as legal tender till September 30.

    The RBI said that the 2,000 denomination banknote was introduced in November 2016 primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all 500 and 1000 banknotes in circulation at that time.

  • Rs 2,000 note helped black money hoarders: P. Chidambaram

    Rs 2,000 note helped black money hoarders: P. Chidambaram

    New Delhi (IANS) | Hitting out at the Centre’s move to withdraw Rs 2,000 notes from circulation, senior Congress leader P. Chidambaram on Monday said the Rs 2,000 note only helped black money hoarders deposit their money. Taking to Twitter, the former Union minister said, “Banks have clarified that no identification, no form and no proof will be required to exchange Rs 2,000 notes.”
    “The BJP’s ploy to withdraw Rs 2,000 notes to unearth black money has failed,” he said.
    Common people do not have Rs 2,000 notes. They abandoned it soon after it was introduced in 2016. They were useless for daily retail exchange.
    So, who holds and uses Rs 2,000 notes? you know the answer
    The Rs 2,000 note only helped black money hoarders to deposit their money easily. Those holding Rs 2000 notes are being welcomed on the red carpet to exchange their notes!
    The Congress leader said the Rs 2,000 note was a foolish step in the government’s stated objective of rooting out black money. I am glad that after 7 years the foolish move is being rolled back.
    His remarks came after the State Bank of India issued a clarification regarding the exchange of Rs 2,000 notes on May 20.
    In a circular, SBI said that people will not be required to fill requisition forms if a person wants to exchange their Rs 2,000 notes to the extent of Rs 20,000 at a time.
    On 19 May, the Reserve Bank of India had announced the withdrawal of Rs 2,000 notes from circulation and also said that it would continue as legal tender till 30 September.