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In theory, the move may appear as a small “RBI monetary policy measure”. But in a ‘jobless-poor investment’ growth trajectory, how does the timing appeal to sound economic policy or thinking?
The wide window for deposit and the lower amount of the high-denomination note in circulation will soften the economic impact, economists say.
Interestingly, he also pulled in Microsoft co-founder Bill Gates and Better Than Cash Alliance. -- aaa
The RBI on Friday said Rs 2,000 denomination notes to the value of Rs 3.62 lakh crore were in circulation on March 31, 2023.
According to Gandhi, who handled RBI's currency management department, the introduction of the Rs 2,000 note in 2016 was a 'short-term tactical decision' to quickly remonetise the economy post-demonetisation