Andhra CM stresses on online transaction, questions need of Rs 500, Rs 2,000 notes

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Saturday gave his views on the new Rs 2,000 and Rs 500 currency notes stating that these notes are not needed, while all transactions should be made online.

Speaking at a press conference at Amaravati, Naidu said, "We don't need Rs 2,000 and Rs 500 currency notes. Small (denomination) notes (Rs 200 and Rs 100) are enough. We have to go for online transactions in a big way so that ultimately corruption is rooted out."

Chandrababu had also questioned the need of Rs 2000, Rs 500 banknotes adding that Rs 200 and Rs 100 notes are sufficient for transaction.

Earlier, Naidu had welcomed the announcement by Prime Minister Narendra Modi on November 8, 2016 to demonetise Rs 1,000 and Rs 500 notes but expressed reservations over the introduction of Rs 2,000 notes.