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Rs. 2000 note to be banned in June?

Hyderabad: If the buzz is to be believed, Centre will impose a ban on Rs 2000 in June next year. Government had introduced Rs. 2000 note in the market to hoodwink people who want to convert black money into white with an organised manner. Issue of Rs. 500 note was delayed deliberately.

On November 8, government banned Rs. 500 and Rs. 1000 notes and announced to release new notes of 500 and 2000 denomination. However RBI issued only Rs 2000 notes. Rs. 500 notes were released in well organised manner that too in limited quantity.

According to the reports received from various sources the government first issued Rs. 2000 note and restricted supply of Rs. 500 on purpose. Economist had advised Prime Minister that after banning of big currency black money hoarders will show interest in high denomination notes to convert their black money into white, when their money will be converted into white then he was advised to give another jolt to them by banning 2000 notes before black money hoarders could heave sigh of relief.

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