Naidu renews call to scrap high-denomination notes

Andhra Pradesh Chief Minister N Chandrababu Naidu has renewed his call to withdraw ₹500, ₹1,000 and ₹2,000 currency notes, saying India should retain only ₹100 and ₹200 notes and promote digital currency to help tackle corruption.

Naidu made the proposal while speaking to reporters in Amaravati on Monday, November 9, a day after the 10th anniversary of the 2016 demonetisation announcement. He said he would continue pressing Prime Minister Narendra Modi to consider the change. The reports describe a renewed demand, not a government decision.

Naidu said he had previously urged Modi to consider the proposal and contributed inputs to a report on digital currency. He argued that limiting high-value cash and promoting digital transactions could help address corruption. He also said effective use of technology could support wealth creation and poverty reduction.

The proposal would extend the 2016 decision to remove ₹500 and ₹1,000 notes from legal tender, while also withdrawing the ₹2,000 denomination. The government announced that move on November 8, 2016, citing objectives that included curbing black money, counterfeit currency and terrorism financing, and encouraging digital payments.