New Delhi: Andhra Pradesh Chief Minister N Chandrababu Naidu, urged the Centre to withdraw Rs 500 currency notes in a bid to clamp down on corruption.
Chandrababu Naidu who is also the president of Telugu Desam Party (TDP), a BJP ally, made this request during the inaugural speech TDP Mahanadu –the party’s annual three-day mega convention, at Kadapa district.
Naidu during his address in the convention urged that government should introduce digital currency in the country, and demonetize Rs 500 and Rs 2,000 notes.
Meanwhile, in a related currency/denomination news, the Reserve Bank of India (RBI) recently issued latest notification on Dispensation of Rs 100 and Rs 200 denomination banknotes through ATMs.
RBI said, as part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators (WLAOs) shall ensure that their ATMs dispense Rs 100 and Rs 200 denomination banknotes on a regular basis as per following milestones:
1. By September 30, 2025: 75% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette.
2. By March 31, 2026: 90% of all ATMs shall dispense either Rs 100 or Rs 200 denomination banknotes from at least one cassette.
The Reserve Bank had introduced the Rs 200 denomination notes in 2017.
RBI said that introduction of this denomination is expected to facilitate exchange transactions for the common man and provide complete series of denomination for transactions at the lower end.
“These notes are available only through select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually. However, the production of these notes is being ramped up by the currency printing presses, and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity,” RBI had said.
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