HYDERABAD: Will the Rs 2,000 currency note also be demonetised by the government? Anil Bokil, the person said to be the brain behind the November 8 note ban, thinks that it is possible and even that, not in the distant future but sometime soon.
A person from the audience at the event where Bokil spoke asked him how can demonetisation be called successful when the government demonetised Rs 1,000 currency note and introduced Rs 2,000 note instead.
Bokil said, “I believe that the introduction of Rs 2,000 note is just a stopgap arrangement after the demonetisation of Rs 500 and Rs 1,000 notes which were in high circulation in the country so that the economy does not get affected much. The government might demonetise Rs 2,000 note too may be before the next general elections.”
The plan by Bokil for a cashless economy might sound rosy but how practical is it keeping in mind that the banking infrastructure in India is poor and a major percentage of the population is not literate and below the poverty line was another question put forward.
Bokil replied that he believes that the population which is below the poverty line does not spend much money and the Rs 50 and Rs 100 notes which will be in circulation will be enough for them to sustain through cash transactions.
Coming to training them on cashless transactions, he said that it will take time but they can be trained for it efficiently.
While a majority of the audience were impressed by the presentation on a cashless economy by Bokil, a question raised by many was that would it ever garner enough political support as online transactions will bring in more transparency.
To this, Bokil said there is a need for many people to raise the demand through various ways so that the government is forced to listen to them.