Poll effect: Circulation of Rs 2,000 notes increases, marginally

As per sources in the banking and trading sectors, circulation of Rs 2,000 denomination currency notes has marginally increased in Mysuru region and also across Karnataka, probably in the wake of the Assembly poll slated for May 10.

A manager of a branch of a nationalised bank, in Mysuru, confirmed that the circulation of Rs 2,000 notes has increased by around 20 per cent, even though she does not have the exact statistics. “We receive deposits from traders and also from post offices, under our jurisdiction area. We have observed that the number of the particular notes, whose circulation was not much in January or February, has marginally increased over March and April,” she said.

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Indication

Another banker in KM Doddi of Maddur taluk, in Mandya district, said that the number of the particular notes has increased by way of deposits. “We have received the notes as deposits and we have also disbursed them to our customers on withdrawals,” the bank manager said.

A Rajesh Chawla of Oushad Medicals on Irwin Road, in Mysuru, said, he had not seen any Rs 2,000 notes in March, but he received three or four notes in April, so far.

Political talk

A senior functionary of the ruling BJP, in Mysuru, who requested anonymity, said, it is true that there is talk about the release of Rs 2,000 denomination notes by candidates and their supporters.

“There is talk that the particular denomination notes were held by politicians of all political parties to be circulated during election. We have heard that ‘ondu moote’ in Kannada means ‘one sack’ denoting Rs 1 crore in political parlance. We are purely involved in organising the party in the grassroots level and thus we are unaware of the financial transactions. But, in party circles, there is some discussion on such transactions,” he said.

More to come

A senior leader of the Opposition Congress said, “It is just the tip of the iceberg. We have nothing concrete to say on the cash transactions. But, it is expected that the circulation of money will increase, as the polling date of May 10 nears”.