On May 19, RBI had introduced the withdrawal of Rs 2,000 foreign money notes from circulation. (Representative picture)
Das exuded confidence that these notes will even be returned or deposited again.
Reserve Bank Governor Shaktikanta Das on Friday mentioned Rs 2,000 denomination notes are coming again and solely Rs 10,000 crore value of such notes are nonetheless with individuals.
He exuded confidence that these notes will even be returned or deposited again.
“Rs 2,000 notes are coming back and only Rs 10,000 crore is left in the system. The expectation is that the amount will also come back,” he mentioned on the sidelines of the occasion right here.
Earlier this month, Das had mentioned 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks whereas the remainder has been exchanged throughout counters.
On May 19, the Reserve Bank of India (RBI) took the monetary world abruptly when it declared its plan to part out the Rs 2,000 observe, which had been launched in 2016 as a part of a fast remonetisation effort.
This had adopted Prime Minister Narendra Modi’s announcement to withdraw greater than 88 per cent of the foreign money in circulation by invalidating the Rs 500 and Rs 1,000 notes.
Public and entities holding such notes had been initially requested to both change or deposit them in financial institution accounts by September 30. The final date was later prolonged to October 7.
On October 7, each deposit and change providers at financial institution branches had been discontinued.
Starting October 8, people had been supplied with the selection of both exchanging the foreign money or having the equal sum credited to their financial institution accounts at 19 Reserve Bank of India places.
Individuals or entities can change Rs 2,000 financial institution notes on the 19 RBI places of work as much as a restrict of Rs 20,000 at a time. However, there isn’t a restrict on the whole quantity for getting Rs 2,000 notes credited into financial institution accounts.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
