While some of the bankers are appreciating issuance of 5,000 rupee currency bill for its 'easy handling', I am concerned for its just the same reason. Illegal gratification never goes through the banking channels for its fear of being tracked down. It is always passed under the table in cash. Larger the currency bill the easier its changing the hands.
Countries like Japan (yen) and Italy (lira) keep their currency denomination low as it would need an attaché case to carry a few thousand dollars worth of their currency which we would be able to carry just in the hip pocket of our trousers.
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