DeMo is no game


Subject: The Hindu Business Line- Letters to the Editor dated December 10, 2019 - DeMo is no game



Submitted version of my letter published in the print edition of
The Hindu Business Line dated December 10, 2019 copied below:
M G Warrier

DeMo is no game
This refers to the article "Time for DeMo 2.0?" (December 9). It is surprising that social media trollers' gossips are finding their way into the columns of Business Line. This observation is in the context of a bureaucrat who has scores to settle against finance ministry and RBI has been quoted as if his is the last word on currency management.
The November 8, 2016 decision to deny legal tender status for two high denomination currency notes had transparent objectives which were stated by GOI while announcing the intention. 
As regards Rs2000 denomination notes, recently it has been made public that as public demand is more for smaller denomination notes, more notes of Rs500 and below denomination are being printed and even ATMs will be dispensing less of Rs2000 denomination notes. Over time, supply of Rs2000 may come down. Even if RBI decides to phase out Rs2000 notes, demonetization may not be necessary unless large scale hoardings of or unethical uses of currency are suspected at a later stage.
Demonetization is not a healthy game to be played with currency every now and then.
M G Warrier, Mumbai

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