The Reserve Bank on Friday announced the withdrawal of Rs 2,000 currency notes from circulation. Unlike the November 2016 demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be legal tender till September 30. Now, Nripendra Misra, Former principal secretary to Prime Minister Narendra Modi, has explained why Rs 2,000 notes were rolled-out in 2016 and why are they being withdrawn now.
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