Will 500-Rupee notes be Discontinued? Chandrababu Naidu raised the demand

The debate over Indian currency has intensified after Andhra Pradesh Chief Minister N. Chandrababu Naidu called for the discontinuation of five-hundred-rupee banknotes to curb corruption and black money in the country. Following his statement, senior Supreme Court lawyer Ashwini Upadhyay publicly supported the demand for demonetization of the high-value currency notes. Proponents argue that removing the note from circulation will significantly reduce illicit financial transactions and enhance transparency in the economy. However, the proposal has sparked widespread discussions and a fresh political debate regarding its potential impact on citizens and the broader financial system, recalling the massive demonetisation exercise carried out nearly a decade ago. Authorities have not yet made any official announcements regarding a new currency ban.