Andhra Pradesh Chief Minister and TDP leader Chandrababu Naidu has reignited the national debate on cash usage by urging the central government to phase out ₹500 and higher denomination currency notes. Speaking at the Telugu Desam Party's ‘Mahanadu Sabha,’ Naidu argued that eliminating these notes would drastically curb corruption and drive the country toward a transparent, fully digital economy. He stressed that India’s financial systems must evolve to embrace digital transactions to track money movement more effectively.

Naidu cited his party’s efforts as an example of this shift, noting that political donations are now accepted only through QR codes, thereby eliminating cash handling and improving accountability. According to him, digital transactions offer a clear trail, making it easier to monitor financial flows and reduce the risk of black money circulation. This is not the first time Naidu has raised the issue—he had previously submitted a detailed report to the Prime Minister following the 2016 demonetization, recommending a halt to the printing of high-value currency.

While Naidu’s proposal has garnered attention, the central government and the Reserve Bank of India have recently clarified that there is no immediate plan to demonetize ₹500 notes or any other denominations. Still, Naidu emphasized the need for a long-term, consistent policy that aligns with the country’s goals of financial transparency and economic modernization. His call has once again sparked discussion on whether India is ready for a more digitally driven financial system and how best to balance convenience with corruption control in a cash-sensitive economy.