From past few days the 2000 ₹ note has been under fire from a lot of politicians and their parties who claim that this is not going to stop black money in any way because govt has issued a 2000 rs note which will promote Black money instead of pulling it out of system.
In this blog I will try to explain it in short and sweet way
Actually the thing is RBI wanted govt to start 10k notes but govt did not allow .
Also u should know that in India currency worth 17 lakh crore is in circulation and out of it 15 lakh crore was in 1000₹ and 500₹ denomination which is a lot and this allowed easy storage of bm, but even with 2k ₹ notes now govt has ordered RBI to issue 500 1000 and 2k notes in small amounts ( maybe 5 lakh crores or 7 lakh crores) so even with 2k ₹ notes the hoardable amount is lesser resulting in lesser bm.
Also govt is working on a proposal which will set a number of 2k notes to a limit and people can have at a time. Exceeding the limit of notes will allow govt to confiscate the notes if the person is unable to account for the money or explain why so many notes were stored for so long.
So even with the introduction of 2k notes steps have been taken which ensure that people will not be able to store black money.
Also people who are crying about how tough it is these days I personally have visited banks not once not twice but many times to get my notes exchanged and to deposit old currency and though it was bit inconvenient but I don't think it's so hard as people describe. The problems mostly faced are more because of the stupidity people are doing instead of the decision taken by government. I fully support banning the old currency because our old currency was compromised, not only was it hoarded in large amounts but also it's security was compromised as it was being printed in Pakistani mints which funded terror groups and militants in Kashmir with that counterfeit currency.
In next post I will try to explain how this banning of old currency is useful. Stay tuned.
ALSO I WOULD LIKE TO APPRECIATE THE PEOPLE WHO ARE WORKING IN BANKS AND TRYING THEIR BEST TO HELP PEOPLE. THE PEOPLE WORKING IN BANKS ARE WORKING REALLY HARD AND AS A CITIZEN I APPRECIATE THEIR EFFORTS.