Notes In Circulation News Today

The segment of society that will be hit by the RBIs decision to withdraw the Rs 2,000 note will be the tax cheats holding crores of these high denomination notes. They will now come under the lens of tax authorities

From its glitchy issuance in 2016 to the stopping of printing in 2018-19 and now finally to its recall, the Rs 2,000 note had a rough ride while in existence. All through the way, RBI has been sparing in its communication, leaving citizens with more questions than answers  

According to Gandhi, who handled RBIs currency management department, the introduction of the Rs 2,000 note in 2016 was a short-term tactical decision to quickly remonetise the economy post-demonetisation

The Reserve Bank of India (RBI) on May 19 said it is withdrawing Rs 2,000 notes from circulation based on a review. However, the banknotes of Rs 2,000 denomination will continue to be legal tender, the central bank said in a release.

The RBI has advised members of the public to deposit Rs 2,000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch.

The banknotes in Rs 2,000 denomination will continue to be legal tender, the RBi said in a release.

Notes in circulation go up due to cautionary holding of cash amid COVID-19 pandemic: RBI In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020 PTI | May 27, 2021 | Updated 16:18 IST The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding ...