Ever for the reason that Reserve Bank of India (RBI) introduced to withdrawal Rs 2000 notes from circulation, the hearsay mills have been working extra time with speculations surrounding Rs 500 notes. There even have been murmurs of the central financial institution planning to re-introduce Rs 1000 notes.
However, the RBI has come out with a clarification over all such rumours. RBI Governor Shaktikanta Das, addressing a post-MPC press convention on Thursday (June 8), mentioned individuals mustn’t speculate over the withdrawal or re-introduction of forex notes. “The central bank is not thinking of withdrawing Rs 500 notes, or re-introducing notes in Rs 1,000 denomination,” he mentioned.
Reserve Bank Governor Shaktikanta Das on Thursday mentioned about 50 per cent of Rs 2,000 notes in circulation has come again within the banking system for the reason that RBI introduced withdrawal of the best denomination forex final month. As on March 31, 2023, he mentioned, Rs 2,000 notes value Rs 3.62 lakh crore have been in circulation.
“So far, Rs 1.80 lakh crore have come back after the announcement,” he mentioned throughout an interplay with media after releasing the bi-monthly financial coverage. About 85 per cent of Rs 2,000 notes are coming as deposits in financial institution accounts and that is consistent with expectation, he mentioned.
On May 19, the Reserve Bank of India (RBI) introduced the withdrawal of Rs 2,000 denomination banknotes as a part of its forex administration and permitted the trade of such notes (as much as Rs 20,000 in a single go) from May 23 onwards. The trade or deposit window is offered until September 30, 2023.
