Key Points
Former Chief Economic Advisor Krishnamurthy Subramanian on Saturday said the Reserve Bank of India (RBI)'s withdrawal of the circulation of Rs 2,000 note "will not affect the common man of the society"...
According to the former CEA, the 2000 notes are not in use in the everyday life of the common people and its cash in circulation is only 10 per cent..
"Secondly, most of the common people do digital transactions," Subramanian said.. Speaking exclusively with from London virtually, the former CEA said, "When a common man comes out to buy something, for example for ordering tea from a chai vendor..
Similarly, when the person who delivers milk to the tea vendor in the morning, comes to collect that money in the evening, "both the parties don't have to go through this trouble now," he said, adding that they don't have to go through this because of digital transactions...
So, I think the 2000 notes will not affect the common people of the society," he said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
