Sushil Modi raises scarcity of Rs 2000 notes in RS

New Delhi: BJP MP Sushil Modi raised the issue of scarcity of Rs 2000 notes in the country and alleged that hoarding of the notes as black money was taking place. He demanded the Centre to clarify the matter.

Sushil Modi said in order to curtail black money this denomination should be discontinued.

In February, Finance Minister Nirmala Sitharaman had said that no instructions have been given to the banks on stopping the issuance of Rs 2000 currency notes.

“As far as I know, no such instruction has been given to the banks (on stopping the issue of Rs 2000 notes),” she said at a meeting with the heads of PSU banks.

The Minister’s comments come after reports of ATM recalibration to phase out of Rs 2000 notes and that the largest currency denomination will remain legal tender, but would be gradually phased out of public circulation.