Almost nine months into Prime Minister Narendra Modi's anti-corruption move of demonetising the currency and introducing a new Rs 2,000 note, it seems we are heading to another currency shake-up where the common man will be introduced to a new Rs 200 note soon. There were questions being asked in Parliament with no answers forthcoming on stopping printing of Rs 2,000 notes.
One of the primary reasons India went into overdrive to curb corruption through demonetisation was to stop cash hoarding. To many, the introduction of the Rs 2,000 note didn't seem to serve the purpose, with the citizens struggling in their day-to-day purchases. Rather, it made life easier for the ‘big sharks' to store more in limited space; this was evident from the amount of cash seized post-demonetisation.
But the common man of India will look to be unmoved even if the highest rupee denomination is pulled out of circulation. Introduction of Rs 200 note may not look to be the need of the hour but it is not unwelcome. Where everyday purchases of the common man range between Rs 50 to Rs 500, the new note will surely fit in well and come as a huge relief.
One of the primary reasons India went into overdrive to curb corruption through demonetisation was to stop cash hoarding. To many, the introduction of the Rs 2,000 note didn't seem to serve the purpose, with the citizens struggling in their day-to-day purchases. Rather, it made life easier for the ‘big sharks' to store more in limited space; this was evident from the amount of cash seized post-demonetisation.
But the common man of India will look to be unmoved even if the highest rupee denomination is pulled out of circulation. Introduction of Rs 200 note may not look to be the need of the hour but it is not unwelcome. Where everyday purchases of the common man range between Rs 50 to Rs 500, the new note will surely fit in well and come as a huge relief.
