Raghuram Rajan's Rs 10,000 currency note idea, and why it didn't take off
The RBI, under former governor Raghuram Rajan, had suggested the introduction of Rs 5,000 and Rs 10,000 notes. Information provided by the RBI to the Public Accounts Committee had revealed that the central bank had made the recommendation in October 2014, TOI had reported in 2017. The reason behind this idea was that the value of the Rs 1,000 note was being eroded by inflation.
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