By - Ashay Jain
Scrapping ₹2000 banknotes may lead to a temporary liquidity crunch in the economy.
Banks might face operational challenges in managing the withdrawal and replacement of ₹2000 banknotes.
The move can discourage hoarding of black money and promote digital transactions.
The transition to lower-denomination banknotes could enhance transparency in financial transactions.
Some sectors of the informal economy may experience disruptions due to the unavailability of high-value currency.
Scrapping ₹2000 banknotes could aid in curbing counterfeiting and illicit activities.
The impact on the overall Indian economy will depend on the implementation strategy and public response.