Page 10 - 2000 Notes News Today

A public interest litigation has been moved in the Delhi High Court challenging the recent notifications issued by Reserve Bank of India and State Bank of India permitting exchange of Rs. 2000...

The Reserve Bank of India has clarified that the Rs 2,000 note would continue to be legal tender, but there are evident signs of panic among the people.

Reserve Bank of India Governor Shaktikanta Das said the deadline of September 30 for the exchange of Rs 2000 notes was decided so that people take the process seriously and it does not become endless.

According to Shaktikanta Das, the governor of the Reserve Bank of India, the majority of the outstanding Rs. 2 000 banknotes would be returned to the banks by September 30, which is the deadline for...

Real estate experts point out that unlike demonetization in 2016 when the impact was greater as sales were slow and the market was struggling, this time round it may be limited to the secondary market or land deals in peripheral locations.

Some of the new deposits in lieu of Rs 2000 notes may be temporary in nature and may be drawn immediately in cash thereafter as part of the precautionary currency demand and, thus, will be liquidity neutral, she said.

As there are around 1.55 lakh bank branches in the country, each branch, on an average, will have to handle 11,677 pieces of Rs 2000 notes – or 116 notes per day between May 23 and September 30, 2023.

The RBI on Friday announced the withdrawal of Rs 2,000 currency notes, which were introduced in November 2016, from circulation.

This announcement from the banks comes at the time when there is a lot of misinformation going around on social media.

None of the arguments that the RBI has given to justify the move are valid.