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Congress MP and former finance minister P Chidambaram's remarks came after the RBI announced it will withdraw Rs 2,000 currency notes from circulation.
However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday.
The Reserve Bank on Monday advised banks to provide shade from the sun and water to customers waiting to exchange or deposit Rs 2,000 notes.
Reserve Bank of India Governor Shaktikanta Das has said
The RBI last week announced the withdrawal of Rs 2,000 currency notes - the highest denomination in circulation. The move sparked speculation that the central bank may bring back Rs 1,000 currency notes, which were demonetised along with Rs 500 notes in November 2016.