- Naidu urges Centre to scrap Rs 500 notes.
- Aims to curb corruption, boost digital payments.
- Reiterates demand made to Prime Minister Modi.
Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday urged the Centre to scrap higher-denomination currency notes of Rs 500, arguing that the move will curb corruption. Making a strong pitch for digital currency and technology-driven governance, he said curbing high-value cash and promoting digital transactions can help tackle corruption. Naidu's Telugu Desam Party (TDP) is an ally in the NDA.
Addressing a press conference in Amaravati, he said notes of only Rs 100 and Rs 200 denominations should be retained. The chief minister said he had highlighted the issue with Prime Minister Narendra Modi in past.
Recalling his digital currency report to PM Modi, Naidu said he had then made the demand to scrap the big currency notes and will demand it again.
“If technology is perfect, wealth creation and poverty alleviation are not difficult,” he said.
Chandrababu calls for currency shake-up Chandrababu pushes for big currency reform: Scrap ₹500 and ₹2,000 notes, retain only ₹100 and ₹200 notes! #chandrababu https://t.co/iG8vrGLmtI
— Hyderabad Daily (@waltairblues) November 9, 2026
Naidu Appeals To Centre To Scrape Rs 500 In 2025
Earlier in April 2025, TDP chief Naidu requested the Central government to abolish Rs 500 denomination currency notes as such a move would come in handy during elections to curtail the distribution of money.
Speaking at a conference hosted by a private news channel in Delhi, he pointed out that India is far ahead of other nations when it comes to digital payments and that demonetising the Rs 500 currency would not be a big problem.
“If you control political corruption or political donations, it will go a long way for the country,” he added, among several other issues he touched upon during the interaction.
Everybody in India should achieve middle-class status or above without room for poverty by 2047, Naidu said, adding that creation of wealth is necessary to distribute it to all and eradicating poverty should be the focus of a sustainable economy.
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“My vision is to bring India above the poverty line by 2047,” Naidu said, adding that the right policies and their timely execution can make India number one in the world economy by beating the United States and China.
Demonetisation Drive 2016
On November 8, 2016, the Centre demonetised its Rs 500 and Rs 1,000 banknotes, invalidating around 86 per cent of the nation's circulating currency overnight, aiming to curb black money, counterfeit currency, and terror funding. This policy accelerated India's transition toward digital payments.
(With Agencies Inputs)