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I have no idea why this non-story is getting so much attention.
by unmole 3y ago
I have no idea why this non-story is getting so much attention.
- dendriti 3y agoWhy is this a non-story?
- unmole 3y agoCurrency notes get aged out and withdrawn from circulation all the time. The 2000 rupee notes were a stop gap measure to mitigate the fallout from the I'll conceived and badly executed demonetization exercise from 2016. No new 2000 rupee notes have been issued in years and aged notes are all being withdrawn now. They remain legal tender and the exchange limits are meant to avoid overburdening bank branches like what happened during demonetization. This is a boring, routine exercise. People are projecting their wishful fantasies onto it. In this very thread, there are people claiming it will reduce corruption, promote digital payments and hit the electoral prospects of opposition parties. None of them make even a lick of sense.
- throwaway384629 3y agoIs it possible that may be you are not able to understand the issue at hand?
- throwaway384629 3y agoIt's a story because it impact every Indian (or even non-Indian) who has a 2000 rupee note in his pocket.
- unmole 3y agoRight, all those Indians who get their news from the Financial Times. This is a boring, routine exercise. But the reporting around it has been breathless.
- throwaway384629 3y agoSorry, not sure what issue are you trying to raise here. Are you against government banning the note, or are you against FT reporting on this?
- unmole 3y agoI thought my comment was very clear. The government isn't banning the note, they are being taken out of circulation in a boring, routine operation. At best it's of local interest and I am puzzled as to why this non-story is getting so much attention. I would be equally surprised if a story about the UK pulling old notes out of circulation was covered by The Hindu Businessline and then made it to the front page of HN.