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Homechevron_rightIndiachevron_rightThe ₹ 2,000 note was a...

The ₹ 2,000 note was a foolish move in 2016: P Chidambaram

The ₹ 2,000 note was a foolish move in 2016: P Chidambaram

New Delhi: Senior Congress leader P Chidambaram on Monday said withdrawal of ₹ 2,000 note from circulation was a ‘foolish move’, adding it would only help people stashed black money.

The former finance minister said that the repealing will offer them a ‘red carpet’ to exchange their currency.

Chidambaram has come down on the government's claim that withdrawal of ₹ 2,000 note was carried out to unearth black money.

The note withdrawal is remotely reminiscent of demonetisation in 2016, which caused a mayhem across the nation.

‘Banks have clarified that no identity, no forms and no proof will be required to exchange the ₹ 2,000 notes The BJP's spin that the ₹ 2000 notes are being withdrawn to unearth black money stands demolished,’ Chidambaram reportedly posted.

Chidambaram said that ordinary people do not keep Rs 2000 notes as these notes are not flexible for daily retail exchange, and people, according to him, shunned it after it was introduced in 2016.

‘The ₹ 2,000 note only helped keepers of black money to hoard their money with ease. The keepers of ₹ 2,000 notes are being welcomed on a red carpet to exchange their notes! So much for the government's declared objective of rooting out black money.’ he was quoted as saying.

Chidambaram further said the introduction of the Rs 2000 note was a ‘foolish move’ back in 2016, and he is glad that it is withdrawn at least after 7 years.

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