Rs 2000 note ban ‘royal welcome’ to keepers of black money: Cong

NEW DELHI: Accusing the government of facilitating those hoarding black money with the move to withdraw Rs 2000 currency notes, the Congress on Tuesday demanded a white paper on what it alleged was the “greatest organised loot” in independent India.

Congress spokesperson Gaurav Vallabh claimed that the unorganised sector will be under stress once again after a gap of 6.5 years and six crore MSMEs and 11 crore farmers will have to “stand in line” for exchanging a few Rs 2000 notes after the sudden announcement.

He further said: “As on March 31, 2023, there were a total of 181 crore Rs 2000 currency notes in circulation totalling Rs 3.62 lakh crore. The majority of this Rs 3.62 lakh crore is with the keepers of black money.

Now to exchange Rs 2000 notes, no identity, forms, or proof will be required by banks.

So, a royal welcome is being given to keepers of black money to exchange their Rs 2000 denomination notes by the Modi government.”

The decision will impact the economy which had just started showing signs of minor recovery after the pandemic as small businesses and traders will be affected due to this note ban, the opposition party alleged.

“We want to ask the government that on the 8th anniversary of note-ban, who were the people who had suggested the introduction of Rs 2000 notes in the first place and why these notes were brought,” he said.

“We demand a white paper on why Rs 2000 notes were introduced and who all were saying that all black money will finish.

Why was the decision to take back 2000 notes taken? We demand a composite white paper on this biggest loot in independent India,” he said.

The Congress leader also claimed that bank credit growth will have an adverse impact as people will stand in long queues in banks to exchange their notes.