Rs 2000 notes to be phased out in next few years: RSS ideologue S Gurumurthy

He added that high denomination notes would be done away within the next five years as the government was committed to moving towards smaller denomination notes.

By: Express Web Desk
New Delhi | Updated: December 12, 2016 07:35 PM IST

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He added that high denomination notes would be done away within the next five years as the government was committed to moving towards smaller denomination notes.(File Photo)

According to RSS ideologue and renowned chartered accountant S Gurumurthy the new Rs 2,000 notes will be phased out over the next few years. In an exclusive interview to India Today, Gurumurthy said the Rs 2,000 note was introduced only as a bridge to meet the gap in cash being taken out of circulation.

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He added that high denomination notes would be done away within the next five years as the government was committed to moving towards smaller denomination notes.

In a bid to weed out black money, Prime Minister Narendra Modi had on November announced scrapping of Rs 500 and Rs 1000 notes and introduction of new Rs 2000 and Rs 500 notes.

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