Rs 2,000 currency notes news: BJP leader Sushil Modi has issued a new statement on Rs 2000 notes that could ignite fresh debates in the country. The BJP MP from Bihar said that the Reserve Bank of India (RBI) stopped printing the Rs 2,000 currency notes 3 years back as there is that it's being used for terror funding, drug trafficking, and black money.
"RBI stopped printing the Rs 2,000 currency notes 3 years back. There is information that people have hoarded it and it is being used for terror funding, drug trafficking and black money," Sushil Modi said.
"If we look at major developed economies like US, China, Germany, Japan, they do not have any currency above 100. So Central government should think about it and ban it in a phased manner so that people have time to replace it with other smaller denominations," the BJP MP further added.
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.