AP Chief Minister Chandrababu Naidu has stirred up a debate with his recent comments on demonetisation. He suggested that to curb corruption, the government should consider demonetising Rs 500 and Rs 200 notes. Chandrababu expressed his views during a meeting with state-level bankers at the state secretariat, where he emphasized the need to promote digital currency in place of cash.
Chandrababu urged bankers to support this initiative, highlighting the importance of their cooperation. On Wednesday, officials announced the release of loans worth Rs 5,40,000 crore for the financial year 2024-25. During this announcement, Chandrababu requested bankers to assist in sanctioning funds for government schemes, waiving off farmers’ loans, and providing investment assistance.
As a prominent figure in the NDA alliance, Chandrababu’s remarks on demonetisation have become a hot topic in national politics. Speculations are rife about whether the Modi government might consider another round of demonetisation. This brings to mind the previous demonetisation move on November 8, 2016, when the government demonetised Rs 1,000 and Rs 500 notes, replacing them with Rs 2,000, Rs 500, and Rs 200 notes.