Congress MP Manickam Tagore Urges Finance Minister to Address Currency Shortage in Rural Areas
Madurai (Tamil Nadu) [India], September 21: Congress MP Manickam Tagore has written a letter to Union Finance Minister Nirmala Sitharaman, highlighting a severe shortage of lower denomination currency notes. He stated that this shortage is causing significant inconvenience and hardship in rural areas and among urban poor communities.
In a social media post, Tagore mentioned, “Wrote a letter to Hon’ble Finance Minister @nsitharaman regarding the severe shortage of Rs. 10, 20, and 50 denomination notes, which is causing hardship in rural and urban poor communities. Urging for immediate intervention to resume printing and distribution. #CurrencyShortage #RuralIndia #FinancialInclusion”
The letter, dated September 17, emphasized the pressing issue affecting millions of citizens. Tagore pointed out that the Reserve Bank of India (RBI) has stopped printing these notes to promote UPI and cashless transactions. While he acknowledged the importance of digital payments, he stressed that this move disproportionately affects people without access to digital payment infrastructure, especially in rural areas.
Tagore explained that the shortage of lower denomination notes has made daily transactions difficult for small businesses, street vendors, and daily wage earners who rely heavily on cash. He requested the Finance Minister to direct the RBI to resume printing and distributing these notes to meet public demand and to implement measures to improve access to digital payment infrastructure in rural areas.
“I urge you to address this critical issue and restore the availability of lower denomination currency notes to alleviate the suffering of marginalized communities. Thank you for your attention to this matter,” Tagore concluded in his letter.
Doubts Revealed
Congress MP -: A Congress MP is a Member of Parliament from the Congress party, which is one of the major political parties in India.
Manickam Tagore -: Manickam Tagore is a politician from the Congress party who represents people in the Parliament.
Finance Minister -: The Finance Minister is a government official responsible for managing the country’s money and economic policies. In this case, it’s Nirmala Sitharaman.
Currency Shortage -: A currency shortage means there aren’t enough money notes available for people to use, which can make buying and selling things difficult.
Rural Areas -: Rural areas are places in the countryside where there are fewer people and buildings compared to cities.
Union Finance Minister -: The Union Finance Minister is the main person in charge of the country’s finances at the national level in India.
RBI -: RBI stands for Reserve Bank of India, which is the central bank that controls the money supply and banking system in India.
Digital Payment Infrastructure -: Digital payment infrastructure refers to the systems and technology that allow people to pay for things using their phones or computers instead of cash.
Daily Wage Earners -: Daily wage earners are people who get paid each day for the work they do, often in jobs like construction or farming.