CBN Opposes Re-introduction of 500, 2,000 Notes
Narendra Modi on Tuesday announced scrapping of big denomination notes Rs 500 and Rs 1000 and the surprise move triggered panic reactions among people. Andhra Pradesh Chief Minister N. Chandrababu Naidu who have been fighting from many years on the issue has responded on the move by central government.
In a series of tweets Chanrababu said that it was a bld move by Modi government. However, he opined that re-introduction of Rs 500 notes and introduction of Rs 2,000 notes need elaborate discussions and called for looking at the alternatives.
Its known that The Telugu Desam Party (TDP) chief had long been demanding for ban on higher denomination notes. In last month he even wrote a letter to Modi urging him to immediately abolish big currency notes and called for making banking transactions compulsory.
''I welcome @narendramodi Govt's historic decision to ban Rs.500 & Rs.1000 notes. This is bold step towards eliminating corruption. TDP has been at the forefront of pushing for this ban on high-value currency notes. This move will change the face of Indian economy.'' CBN Tweeted
''Re-introduction of Rs.500 notes, introduction of Rs.2000 notes needs elaborate discussions & alternatives should be looked into. Centre needs to reassess the steps &tread with caution before introducing new denominations, to eliminate stash''He added
News Posted: 8 November, 2016
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