DELHI: The Indian government will re-introduce all currency note denominations with new designs and feature, economic affairs secretary Shaktikanta Das said on Thursday.
The government sprang a surprise on Tuesday by withdrawing Rs 500 and Rs 1,000 notes, causing an upheaval with millions of people holding cash savings hurled into uncertainty.
But the case will be different for smaller denominations, Das said. “Let me make it clear, the tender status of existing Rs 100, 50 or other denominations will continue to be legal,” the secretary said, as quoted by ANI.
“From time to time, new series of notes with new features and designs will be infused in the market.”
The government has said that people can deposit their cash in banks or get it exchanged. But the move has sparked widespread fear – especially among the poor who do not have bank accounts and keep their money in cash. -HindustanTimes
THE PASHTUN TIMES