Andhra Pradesh Chief Minister Nara Chandrababu Naidu in an interview to an English News Channel in New Delhi opined that big denominations are the root cause of corruption and said that there are many problems with big denominations.
He expressed his view that big denominations in political field leads to many problems. He said that promotion of digital currency may reduce these problems.
Digital currency in a country like ours where there is huge illiteracy is not applicable and feasible. Chandrababu though tried to promote digital currency for some time, he then stopped speaking about it.
The government’s decision to ban Rs 1000 and Rs 500 notes to eradicate black money and then introducing another big denomination of Rs 2000 in its place was criticised as a foolish act on part of the government.
The financial system of India collapsed with demonetisation and now Chandrababu calling for a ban of Rs 2000 seems to have some deep connotation is the opinion of the critics.