Will India ban new rupee 500 currency note ?

Recently, the  new talk of the town is that Indian government will going to ban or withdraw the  new rupee 500 currency note .

Let’s evaluate this claim in BIRD VIEW,

1. Storage of black money after withdrawal of rupee 2000 currency notes.
Reserve Bank of India withdraw new rupee 2000 currency notes last year (2024). So people store their extra money in form of rupee 500 notes , this become reason that now government thinking to stop nre rupee 500 notes.

2. Upcoming state election in states like bihar , assam.

In late this year many states will go into election and in fighting election  cash is now new normal Indian government may ban current new rupee 500 notes to curb opposition fighting limit as in 2017 also when Indian government done demonstration their was a election in states like utter pradesh, gujarat , Himachal Pradesh etc.

3. Push for digital India.
Current modi government’s one the biggest sucess is digital India mission and to further it small value currency  notes led to digital transactions  using UPI and other platforms.

4. Introduction of CBDC ( central bank digital currency).
On line of bitcoin, Reserve Bank of India started pilot project to lunch own digital currency using Blockchain called E-rupee. If E- rupee has to percolate into masses than need to stop big value currency notes.

5. Duplication of currency cartel.
In past also many instances risen in which fake currency notes  flows to india by pakistan using nepal and Bangladesh route . This may also be potent reason for stopping 500 rupee note.

6. Terror finance cases.
Enemy country like pakistan use duplication indian currency notes to finance terror inside indian land and also to earn revenue from India as many case studies suggest that pakistan used  India’s mahakumbh mela 2025 as source to force duplicate currency inside India .

7. Cost of printing currency

Reserve Bank of India spend ample amount of rupee to print rupee . And digital rupee seems batter alternative to avoid such spending , this also can be one of the reason.

8. Quality of paper of currency notes

Reserve Bank of India gave one of the reason that rupee 2000 currency note paper lifespan is 6 years and hence we are withdrawing it .so this also can be reason for withdrawal of rupee 500 currency notes.

Conclusion of evaluation 

         Above are some reasonable reasons to ban rupee 500 currency notes. Although there can be many unknown reason with Indian government based on their intelligence agency.