70 per cent of the population want 1,000 banknotes back

Vastavam web:Ten months after the note-ban which saw the scrapping of the 1000 and 500 rupee notes, nearly 70 per cent of the population want the Rs 1,000 banknotes back, says a survey.Last November, government scrapped Rs 500 and Rs 1,000 notes, which accounted over 86 per cent of the total Rs 16.24 trillion value of banknotes in circulation as of March 2016.”Nearly 69 per cent of the of surveyed population responded with ‘yes’ when asked if there is a need for Rs 1,000 banknotes,” according to a survey conducted by Way2Online, a Hyderabad-based local language short news app.
Following demonetisation, the Reserve Bank had also introduced new Rs 500 and Rs 2,000 notes.”Around 62 per cent of the respondents faced problems in getting change since the note ban, while a 38 per cent had no issue in getting the change,” the survey said.In August, the Reserve Bank introduced Rs 200 banknotes in a bid to fill the gap and ease cash transactions by guaranteeing getting change for larger denomination notes.Of the 62 per cent who had trouble with getting exact change, only 44 per cent believed the new 200 currency note will solve the problem, while 10 per cent are convinced that the current ratio is too big to be filled with just a single denomination note.