Rs 2,000 note: The deadline to trade or deposit the Rs 2,000 note is inching nearer in India. The facility to trade or deposit the notes shall be accessible to the frequent public solely up to September 30 (Saturday).
The change got here into motion after the Reserve Bank of India (RBI) within the month of May introduced to discontinue circulation of 2,000 rupee notes as persons are going through points in exchanging an enormous quantity each day.Â
RBI has requested to trade or deposit the remaining Rs 2,000 note to banks with a deadline. But, it needs to be famous that the Rs 2,000 rupee note doesn’t lose its worth out there and stays a sound tender.
2,000 rupee notes deposits made in RBI:
The Reserve Bank of India stated that as a lot as 93 per cent of Rs 2,000 forex notes that have been in circulation on May 19- the day when the forex was withdrawn from circulation- have been returned to banks.
According to the info acquired from the banks, the full worth of Rs 2,000 banknotes acquired again from circulation is Rs 3.32 lakh crore up to August 31, 2023, it stated in an announcement, launched in early September.
“Consequently, Rs 2,000 banknotes in circulation as at the close of business on August 31 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, have since been returned,” it added.
Data collected from main banks signifies that out of the full banknotes in Rs 2,000 denomination acquired again from circulation, about 87 per cent is within the type of deposits and the remaining round 13 per cent has been exchanged into different denomination banknotes.
When 2,000 notes withdrawal was introduced?
The Reserve Bank of India introduced the withdrawal of Rs 2,000 banknotes from circulation on May 19.
The complete worth of Rs 2,000 banknotes in circulation, which amounted to Rs 3.62 lakh crore on March 31, 2023, had declined to Rs 3.56 lakh crore as on the shut of enterprise on May 19, 2023. RBI requested the members of the general public holding the high-value banknote to utilise the remaining interval till September 30, to deposit and/or trade them.
When Rs 2,000 notes have been launched in India?
Rs 2,000 notes have been launched in 2016 by the Bharatiya Janata Party (BJP) authorities after the demonetisation of Rs 500 and Rs 1,000 notes. The 2016 note ban was geared toward tackling one of many largest points for the country- corruption by way of black cash out there.
(With companies inputs)Â
ALSO READ: RBI says 93% of Rs 2,000 notes price Rs 3.32 lakh crore again with banks
