Chidambaram slams government over Rs 2000 currency note and black money hoarding

New Delhi: Former finance minister P Chidambaram has criticised the government's decision to introduce the Rs 2000 currency note in 2016, labelling it a "foolish move."

Disapproval of Rs 2000 Note Introduction
Congress veteran Chidambaram expressed his satisfaction that the "foolish move" was finally being withdrawn after seven years.

He strongly condemned the central government for its decision to introduce new notes and dismissed the Bharatiya Janata Party's claim that the withdrawal of Rs 2000 notes aimed to expose black money.

Government's Claim of Unearthing Black Money Debunked: Chidambaram

In a long tweet, Chidambaram stated, "Banks have confirmed that no identification, forms, or proof will be necessary to exchange Rs 2000 notes. The common people do not possess Rs 2000 notes. They abandoned them shortly after their introduction in 2016. These notes were impractical for daily retail transactions."

Banks Ease Process of Exchanging Rs 2000 Notes
The Reserve Bank of India (RBI) announced on Friday that it would withdraw the Rs 2000 notes from circulation. Individuals can now exchange or deposit these notes in their bank accounts until September 30.

The RBI's move aims to streamline the currency system and ensure a smooth transition for the public.

Rs 2000 Note Helped Hoarders of Black Money, Says Chidambaram
Chidambaram further emphasized in his tweet, "So, who kept the Rs 2000 notes and used them? You know the answer. The Rs 2000 note only helped keepers of black money to hoard their money with ease. The keepers of Rs 2000 notes are being welcomed on a red carpet to exchange their notes!"