RBI withdraws Rs 2000 currency note from circulation

 

Big Announcement Rs .2,000 currency notes: Banned for circulation, Asked to stop issuing banknotes with immediate effect. RBI .

According to Rbi, Rs. 2,000 note will

 remain legal tender till September 30.

On Friday Reserve Bank of India declared to withdraw 

Rs 2,000 bank currency from circulation. However, 

RBI said banknotes of the same denomination 

continue to be legal tender.

Rbi has given an explanation regarding the move of the banknote as

“The sufficient quantities of other denominations of 

banknote is available.

This should be exchanged at the bank's counter on 

or before 30 Sep. 2023.

Citizens of India may continue to use the currency of

 rs 2,000. for truncation

With receiving them from the market and other  .as 

payment. However, they are encouraged to deposit

 and exchange the notes on or before 30 Sep 2023.

The bankers note the denomination of RS. 2000 were

 issued almost 89% on March 2017.

And are the end of their estimated life. The note bears

 the span of 4-5 years of life.

The value of this currency rs. 2000 circulated is 

about declined from 6.73 crores. and it is in peak

 as on march. 31 .2028 ( 37.3% of notes in circulation )

 to rs 3.62 rs. Lack crore constituting only 10.8 % of

 notes circulated on March 31/2023.

The observation of such denominations of such

 notes was not commonly used for transactions.

The stock of banknotes of other denominations 

continued to be Adequate.

Mitting the currency requirement to the citizens 

.said spoke person of RBI.

This banknote note was introduced in November 2016,

 to meet the currency requirement of the economy 

in an expeditious manner after the withdrawal of

 the legal tender status of all RS.500 and RS.1000 

to circulate at that time.

RBI. Says to avoid disruption of regular activities bank branches, exchange of RS. 2000 banknotes to another

 bank denomination banknotes can be made up to 

RS. 20000 at a time.

 

 

 

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