New Delhi: Claiming that “severe shortage” of lower denomination currency notes is troubling rural and urban poor, Congress Lok Sabha Whip Manickam Tagore has written to Finance Minister Nirmala Sitharaman urging her intervention to direct the RBI to print Rs 10, Rs 20 and Rs 50 denomination notes to restore their availability.
The Virudhunagar MP said the shortage of lower denomination currency notes was affecting millions of poor people in rural and urban areas. He said reports suggested that the RBI has stopped printing these notes to promote UPI and cashless transactions.
“The severe shortage of Rs 10, 20 and Rs 50 denomination currency notes has caused immense inconvenience and hardship…While the push for digital payments is understandable, the move disproportionately affects those without access to digital payment infrastructure, particularly in rural areas,” he said in his letter.
He said the stopping of printing lower denomination notes infringes upon the fundamental right to access currency essential for daily transactions. The shortage has resulted in difficulties for small businesses, street vendors and daily wage earners who rely heavily on cash transactions, he added.
Tagore urged the Finance Minister to direct the RBI to resume printing and distribution of lower denomination currency notes and ensure adequate supply of these notes to meet public demand.
He also demanded the implementation of measures to address digital divide and improve access to digital payment infrastructure in rural areas.
Published 21 September 2024, 09:06 IST
