The Chief Minister of Andhra Pradesh, N. Chandrababu Naidu, has urged the discontinuation of currency notes valued at ₹500 and above. He asserted that such a step will curb corruption and enhance financial transparency. Addressing party members at the annual Mahanadu meeting of the Telugu Desam Party (TDP) in the YSR Kadapa district, Naidu advocated for the cessation of large denomination notes like ₹500, ₹1,000, and ₹2,000, emphasizing the promotion of digital payments.
'Promoting Digital Currency...'
Chief Minister Naidu revealed, "When I presented the digital currency report to Prime Minister Narendra Modi, I had one straightforward suggestion: stop printing ₹500, ₹1000, and ₹2000 notes. Promote digital currency. If any corruption occurs, it becomes easier to trace. That’s my proposition to him."
On this occasion, Naidu once again urged the central government to implement this recommendation, noting that the world is rapidly moving towards digital currency.
Naidu contended, "Today, from this assembly, I wish to reiterate that we are in the era of digital currency. If someone needed to donate to party activities, earlier we would have to review lists; now, QR codes enable both party workers and the general public to contribute effortlessly. The distribution of ₹500, ₹1000, and ₹2000 notes is unnecessary."
Advocating public support for the proposal, Naidu encouraged the supporters present to raise their hands in favor of canceling large denomination notes and applaud the idea.
