Tuesday , August 22 2017
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CM expresses fears that 2000 note may also be scrapped

Hyderabad: Chief Minister of Telangana K Chandrasekhar Rao expressed fear that new note of Rs. 2000 may also be scrapped. This has given sleepless night to black money hoarders who are struggling hard to convert black money into white. Once again note of Rs. 2000 has become the talk of the town.

It must be noted that after scrapping of Rs. 500 and Rs. 1000 notes, those who possessed unaccounted cash had converted their money into white on 25 to 40 pc commission. They were feeling relieved after saving their wealth though with a little loss. But when Chief Minister of Telangana KCR expressed fears yesterday that the new 2000 note may also be scrapped, those who had converted defunct currency into 2000 notes are worried about their wealth. They are busy checking veracity of chief minister’s fears.

It has been learnt from reliable sources that defunct notes were converted into valid currency, in connivance with managers and other officials of banks and post offices by paying them commission. RBI and CBI is making enquiry into the matter. Central government has also received such reports from intelligence. Reports were received three days ago regarding conversion of nearly 1000 cr.

It is also likely that RBI will issue new 1000 notes in the market by scrapping new 2000 notes. However it is not confirmed officially.

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