two thousand noteTwo Thousand Notes) will now be out of circulation. But, those who currently have two thousand rupee notes, their recognition will remain. The Reserve Bank of India has argued in its decision regarding this that the note has been returned under the clean note policy. Let us tell that in the year 2016, after the announcement of demonetisation by PM Modi, new notes of two thousand rupees came in the market. After this decision of the Reserve Bank of India, political movements have intensified in Bihar.
Adequate stock of Rs 100, 200 and 500 banknotes
In its press release issued by RBI, it has been said that, ‘It has been seen that the transaction of two thousand rupee note was not used much. The bank has sufficient stock of 100, 200 and 500 rupee banknotes to meet the cash requirement. Keeping this in mind, the RBI had stopped printing of two thousand rupee notes from the year 2018-19 itself.
Only 10.8 percent of 2000 notes are in circulation
According to RBI, from May 23, 2023, only notes up to a maximum of 20 thousand rupees will be exchanged in banks at a time. After the circulation of two thousand rupees is completely stopped in September, money will be exchanged normally. According to the RBI, more than 89 percent of the Rs 2,000 notes issued before March 2017 have completed their life of four to five years. As on March 31, 2018, Rs 2,000 notes worth Rs 6.73 lakh crore were in circulation. Till May 31, 2023, only two thousand rupee notes worth Rs 3.62 lakh crore are in circulation, which is only 10.8 percent of the total note circulation.
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