2,000 rupee notes have been hoarded by people and being used for terror funding: Sushil Modi

BJP MP Sushil Modi said that RBI stopped printing the Rs 2,000 currency notes three years ago. “RBI stopped printing the Rs 2,000 currency notes three years back. There is information that people have hoarded it and it is being used for terror funding, drug trafficking and black money,” Modi told ANI. “If we look at major developed economies like the US, China, Germany, Japan, they do not have any currency above 100. So, the Centre should think about it and ban it in a phased manner, so that people have time to replace it with other smaller denominations.”