Modi was not at all in favour of introducing Rs 2,000 notes, says former Principal Secretary to PM

'PM knew Rs 2000 has hoarding value instead of transactional value,' he said

Amid criticism from the Opposition over the withdrawal of Rs 2,000 currency notes, former Principal Secretary to PM Nripendra Misra said that Narendra Modi was not in favour of introducing Rs 2,000 notes and that he gave "reluctant permission" for it as demonetisation was to be done within a limited time.

“PM never considered Rs 2,000 note as note of the poor, he knew Rs 2,000 has hoarding value instead of transactional value," he added.

Opposition parties had targeted Modi over the RBI's announcement on the withdrawal of Rs 2,000 currency notes from circulation, with the Congress saying the move was "typical of our self-styled vishwaguru" and his method of "first act, second think".

In a tweet in Hindi, Delhi Chief Minister and AAP national convener Arvind Kejriwal said, "First he said that by bringing 2,000 note, corruption will stop. Now they are saying that by banning 2,000 note, corruption will end. That's why we say, PM should be educated... He doesn't understand. The public has to suffer."

(With PTI inputs)