Just like the Centre, now RBI too showing its arrogance and ignorance on the two Telugu States which have always contributed the best in all sectors for India in its economic growth.
Going into the details, the RBI hasn’t sent even one single new 500 rupees note to any of the two Telugu States. This is making the two governments frustrated and restless. In Telangana, all the small trades are done by 500 notes more but they haven’t received any new 500 notes. Even in the newly sanctioned 2000 crores of new notes distribution to Andhra Pradesh, there were no 500 rupees notes. All the 2000 crores are of 2000 and 100’s denominations. Financial Ministry of two states has brought this problem to their respected CMs and they both are keen to fight with Centre together for the new 500 notes.
According to a well experienced Government official, the circulation and usage of 500 notes are high in the both Telugu States compared to any state in India. Some opines that the RBI is circulating all the new 500 notes to the states where the 500 notes usage is very less and it’s giving none to the Telugu States. The two Telugu States are now demanding the circulation of new 500 notes as the people are still suffering to the unavailability of new 500 notes as they were unable to get the change for 2000 notes everywhere.