In India, digital transactions are on the rise, and the habit of carrying cash is diminishing. This shift has impacted the availability of currency notes in the market. Addressing this issue, Congress MP Manickam Tagore wrote a letter to Finance Minister Nirmala Sitharaman, highlighting the shortage of low-denomination notes and its consequences.
Concern over ₹10, ₹20, and ₹50 notes
According to ANI, MP Manickam Tagore drew the Finance Minister’s attention to the significant shortage of low-value currency notes through his letter. He noted that ₹10, ₹20, and ₹50 notes are rarely seen in circulation, posing challenges, especially for rural areas and urban poor communities.
'Printing halted to promote UPI?'
Congress leader Manickam Tagore also took to social media to share his concerns, along with a photo of the letter he sent to the Finance Minister on September 17. He cited various reports suggesting that the Reserve Bank of India (RBI) had stopped printing ₹10, ₹20, and ₹50 notes to promote UPI and digital transactions. This has caused difficulties for people in rural areas and urban poor communities who do not have access to digital payment methods.
Violation of fundamental rights, says MP
In his letter, Manickam Tagore acknowledged the need to promote digital payments but emphasized that it is adversely affecting those without access to digital payment infrastructure, especially in rural areas. He described the lack of access to essential currency for daily transactions as a violation of fundamental rights. This shortage affects not only common people but also small businesses, street vendors, and daily wage earners who rely heavily on cash transactions.
Requests from Nirmala Sitharaman
Through his letter, Tagore urged Finance Minister Nirmala Sitharaman to instruct the RBI to resume the printing and distribution of low-denomination currency notes to meet public demand. He also requested measures to improve access to digital payment infrastructure in rural areas, ensuring adequate supply of small notes to facilitate daily transactions.
