Bold move

In a very bold step, Prime Minister Narendra Modi has abolished the use of existing Rs. 500 and 1000 notes with a simple statement. Everyone started appreciating this step. However, no one looked about its legal standing. Another worrying factor is introduction of Rs 2000 notes. It may not be difficult for agencies to create fake notes of the newly introduced currency, even if it is having chip in it. It should have not been introduced at all when many are suggesting withdrawal even Rs. 500 notes. A positive note is bringing the black money out of lockers and valets.

Dr S V N Vijayendra, Mysuru

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