The former finance minister also said that withdrawing both the Rs 1000 and Rs 500 currency notes were a grave mistake, one that had not been accepted by the people of the country.
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"Thanks to the arrival of digital payments and especially UPI in the past six years, a wide majority may not have even a single Rs 2,000 note at home. Given an over four-month window, there is no urgency to exchange or deposit it," an official said