Economists have said that the government should ban Rs 1,000 and Rs 500 notes to remove the lack of liquidity in the country.
According to experts, the main reason for the lack of cash in the bank is the 1,000 and 500 rate notes. It is said that there is a shortage of currency in the bank because it is easy to hide large amounts of notes. The industrialists have also started to accept the fact that the 1,000 and 500 notes, which have been in circulation for a long time, have been hidden. It's time to make a tough decision. Banks are constantly increasing interest rates. Banks have started giving advice like private moneylenders to industrialists who are unable to pay installments and compensation on time. Unable to bear the pressure of industrialists and businessmen, the incidents of committing suicide are becoming public.
Recently, a businessman of Golbazar committed suicide due to the stress of bank loans, according to the Association of Industries and Businessmen. Businessmen say that the bank does not want to give more loans and it is not easy to pay the loan amount and interest. They have demanded that the government should intervene to stop it. Nepal Rastra Bank has sent more than 6 trillion rupees to the market. Officials of the National Bank of India have said that they will not allow shortage of currency in the market. "High rate notes have been hidden," said a bank official. should be closed.
Prime Minister Narendra Modi had announced six years ago on November 8, 2016, to stop trading in Rs 1,000 and Rs 500 notes from 8 pm to bring the hidden currency into the Indian market. Illegal hoarders who could not exchange crores of notes put them in sacks and destroyed them. The official of the bank, taking a different view, said that if the notes of 1,000 and 500 rates of special series are stopped, the problem will be solved in general.
He said, "There is no need to completely ban 1000 and 500 currency notes. "If 100 and lower currency notes can be kept in circulation, corruption in cash will also be reduced. According to sources, the 2000 and 500 currency notes brought by the Indian government after demonetisation have started to decrease in the Indian market. According to the sources, even 500 rate notes are not available. Officials accept the possibility of concealing money obtained from illegal transactions, as high-rate notes are less difficult to hide. They argue that currency notes of less than 100 will help control criminal activities including cash bribe transactions.
Chappal traders also agree that if the trading of high rate notes is banned, the transactions through the banking system will increase, the trend of hiding notes will be discouraged and the cash transactions involved in criminal activities will decrease. Elections have just been completed in the country. It is estimated that money was traded illegally during the election. Officials say that the government should take a firm decision to bring the illegally hidden currency notes into the market.
