Scrap Rs 500, Rs 2,000 notes to curb corruption, says Andhra CM

What happened: Andhra Pradesh Chief Minister N Chandrababu Naidu reiterated his demand for the Union government to scrap Rs 500 and Rs 2,000 currency notes, saying eliminating high-value cash transactions would help curb corruption. Key numbers: Remarks came a day after the 10th anniversary of demonetisation. Why it matters: A Scroll analysis of official data and global indices found black money has not receded from the economy a decade after demonetisation, corruption levels have not changed, and law enforcement still struggles with terrorist financing.

Andhra Pradesh Chief Minister N Chandrababu Naidu reiterated his demand for the Union government to scrap Rs 500 and Rs 2,000 currency notes, saying eliminating high-value cash transactions would help curb corruption.

A Scroll analysis of official data and global indices found black money has not receded from the economy a decade after demonetisation, corruption levels have not changed, and law enforcement still struggles with terrorist financing.