Curated By: Business Desk
Last Updated: October 25, 2023, 13:12 IST
The Rs 2000 be aware was discontinued this 12 months.
The RBI has clarified that the circulation of Rs 500 notes within the nation is adequate to fulfill the money necessities.
November 8, 2016, is a date firmly etched in Indian historical past, marking the day when two of the nation’s most vital forex denominations had been demonetized. Recent rumours have sparked discussions in regards to the potential resurgence of the Rs 1000 be aware, however what’s the precise reality?
Seven years after demonetisation, the Rs 2000 be aware has additionally been discontinued. The Reserve Bank of India (RBI) set a deadline of September 2023 for the deposit of Rs 2000 notes in banks. According to studies, roughly 87 per cent of the nation’s Rs 2000 notes discovered their approach to financial institution deposits. Nonetheless, a sum of about Rs 10 crore value of Rs 2000 notes stays unaccounted for, a testomony to the persistence of this denomination among the many public, regardless of its discontinuation.
The lingering presence of those notes has fueled hypothesis on social media platforms concerning the potential revival of the Rs 1000 be aware. Many have claimed the discontinuation of the Rs 2000 notes implies the return of its predecessor. To deal with these circulating rumours, the Reserve Bank of India has lastly damaged its silence. A tweet from the official ANI account learn, “RBI is not in consideration of the re-introduction of Rs 1000 note: Sources.”
RBI shouldn’t be in consideration of the re-introduction of Rs 1000 be aware: Sources— ANI (@ANI) October 20, 2023
The RBI has clarified that the circulation of Rs 500 notes within the nation is adequate to fulfill the money necessities. Additionally, the rising reputation of digital transactions amongst Indian residents has led to decreased reliance on bodily money. The central financial institution has issued a warning, advising the general public to not lend credence to such rumours and inspiring them to remain knowledgeable with factual data.
The deadline for the deposit of Rs 2000 notes was initially closed on September 30 however was prolonged to October 7. From October 8 onwards, people had the choice to alternate the discontinued forex or have the remaining notes credited to their financial institution accounts via the 19 RBI workplaces throughout the nation.
