Former department of economic affairs (DEA) secretary S.C. Garg has said that the high-value notes can be demonetised without causing any disruption.
He claimed that the Rs 2,000 notes may not have been in circulation much now as they have been hoarded by people.
“A good chunk of Rs 2,000 notes are actually not in circulation, having been hoarded. The Rs 2000 note, therefore, is not presently working as a currency of transaction,” Garg said.
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