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RBI Decision On Rs 2000 Currency Notes

RBI Decision On Rs 2000 Currency Notes: The Reserve Bank of India (RBI) has announced the withdrawal of Rs 2,000 notes from circulation. Notes of this value can be deposited or exchanged in banks till 30 September.

Rs 2000 note out of circulation

The RBI issued a statement saying that the Rs 2,000 notes currently in circulation will remain legal tender till September 30. Along with this, RBI has asked banks to stop giving Rs 2,000 notes with immediate effect.

two thousand note

The Reserve Bank has asked the banks to provide the facility of depositing and exchanging these notes till September 30. From May 23, Rs 2,000 notes can be exchanged and deposited in banks. However, only notes worth Rs 20,000 will be exchanged at a time.

2000 note

RBI, however, has not clarified the maximum denomination of Rs 2,000 notes that a person can deposit in banks. But he has said that only 10 notes can be changed at a time.

When did RBI issue Rs 2,000 note?

This step of RBI is slightly different from the unexpected announcement of November 2016, in which the then notes of 500 and 1,000 rupees were taken out of circulation from the midnight of the announcement. At the same time, RBI issued Rs 2,000 notes.

What will happen to the Rs 2000 notes left after September 30?

However, the central bank has not told what will be the status of Rs 2,000 notes left with the people after the end of the deadline of 30 September. It is said that even after the expiry of the deadline, if these notes remain with the people, then no legal action will be taken against them.

Is it demonetisation?

Speaking to a TV channel after the announcement of the decision, Finance Secretary T V Somanathan said that the decision is different from demonetisation made in November 2016 and will not have any impact on the economy. When asked about the notes not being deposited till September 30, he said that banks will have proper arrangements to deal with it.

rs 2000 banknotes withdrawal

At the same time, former Finance Secretary SC Garg said that the purpose of this move of RBI is to reduce dependence on high value notes and promote digital payments. He said that half of the Rs 2,000 notes are already out of the financial system.

2000 Rupee Note Latest News

The central bank has taken this step amid concerns about high denomination notes being used to deposit black money. RBI had stopped printing new Rs 2,000 notes in the financial year 2018-19 itself and gradually their circulation has reduced considerably.

2000 Rupees Note News in Hindi

According to the Reserve Bank, it has been observed that the Rs 2,000 note is no longer commonly used in transactions. Along with this, due to availability of notes of other denominations in sufficient quantity with the banks, there will be no problem in giving notes to the people.

Bank notes of Rs 2,000 denomination will continue to be legal tender.

RBI said, keeping this in mind, it has been decided to withdraw Rs 2,000 notes from circulation in line with RBI’s clean note policy. However, bank notes of Rs 2,000 denomination will continue to be legal tender.

RBI Decision On Rs 2000 Notes Is Demonetisation 2.0?

The central bank has asked people to visit banks to deposit Rs 2,000 notes in their accounts or exchange them for notes of other denominations. People can exchange notes from May 23 to September 30 by visiting any bank branch. Apart from this, the facility of changing Rs 2,000 notes will also be given in 19 regional offices of RBI.

89% of Rs 2,000 notes issued before March 2017

According to the RBI, around 89 per cent of the Rs 2,000 notes were issued before March 2017 and are nearing the end of their estimated life of four-five years.

2000 Rupees Note News in Hindi

Rs 2,000 notes worth Rs 6.73 lakh crore were present in circulation in March 2018, but in March 2023 their number came down to Rs 3.62 lakh crore. Thus, only 10.8 per cent of the total notes in circulation are Rs 2,000 notes, which was 37.3 per cent in March 2018.


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