2000 rs Note: Das said that the decision to remove 2,000 notes from circulation will have a very limited impact on the economy. The share of 2,000 notes in the total currency in circulation is only 10.8 percent. He said that after demonetisation in 2016, Rs 2,000 note was introduced to compensate for the cash crunch.
RBI: Reserve Bank of India (RBI) Governor Shaktikanta Das has said that most of the Rs 2,000 notes will be returned by the September 30 deadline. Following the surprise announcement of the sudden withdrawal of the highest denomination currency in circulation, Das on Monday said the decision is part of the central bank’s currency management. He clarified that the Rs 2,000 note will continue to be legal tender. The governor said that despite the Ukraine war and the failure of some banks in Western countries, the country’s currency management system is very strong and the exchange rate is stable.so many notes
Das said that the decision to remove Rs 2,000 notes from circulation would have a very limited impact on the economy. The share of 2,000 notes in the total currency in circulation is only 10.8 percent. He said that after demonetisation in 2016, Rs 2,000 note was introduced to compensate for the cash crunch. The governor said that anyone who has a Rs 2,000 note can deposit it in his bank account or exchange it for any other denomination currency. At the same time, banks have been advised to make necessary arrangements to exchange Rs 2,000 notes.
Last date till September 30
He said, “We hope that most of the 2,000 notes will be returned by the September 30 deadline.” Das said, “There is already enough cash in the system.” Not only the Reserve Bank, there is enough cash in the currency chests operated by the banks. There is nothing to worry about. He said that the Reserve Bank is sensitive to the problems of the people. If people face any kind of problem, the central bank will bring regulation if needed.
it will be monitored
Das said that the existing rule of mandatory Permanent Account Number (PAN) on depositing an amount of Rs 50,000 or more in a bank account will also apply in the case of Rs 2,000 notes. He said that the cash or liquidity position in the system would be continuously monitored.
