Rs 2000 currency notes slowly being phased out

[Sumanth]

I wish 500 Rs notes also to be withdrawn. Only 200, 100, 50, 20 and 10 Rs notes should be made available. Then only digital transaction will increase. Digital transaction can only make transparency.

I came to say the exact same thing. My basis is during the lockdown food was distributed to the needy which was said to be 80 crore. These 80 crore along with a few more crore of people (lower middle or middle class) could be fine with lower denominations without even looking at digital transactions. The higher denominations only seem to be for the hoarders or those who want to escape tax and these category of people are much lesser percentage in India. And those use higher denominations most likely can also learn digital transactions (speaking in a broad sense).

Though digital transaction increasing should be the aim, I don't see the government doing much about it in terms of making the banking systems, securities robust. The government is not even making it friendly by having some transaction amount on these digital transactions.