New 2,000 Rupee Note A Stopgap Arrangement, Says Gurumurthy

On 12 December, economist and Rashtriya Swayamsewak Sangh ideologue S Gurumurthy said the newly-issued Rs 2,000 currency note is a "stopgap arrangement" to tide over the cash crunch after demonetisation, and it will gradually be withdrawn by the government. Gurumurthy said in an interview to India Today news channel that the Rs 2,000 note was introduced only to meet the demand-supply gap after Rs 500 and Rs 1,000 notes were withdrawn.

He said the banks would be asked to hold back Rs 2,000 notes and replace them with lower denomination notes. However, the government would be phasing out Rs 2,000 notes and not demonetising them. In a separate interview to CNN-News18 channel, Gurumurthy claimed the demonetisation move has been successful in achieving its objective, which was to "record the unrecorded roaming cash".

With inputs from IANS.