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RBI in the statement said, "It is further informed that there are robust systems in place for reconciliation of banknotes printed at the presses and supplied to RBI which include protocols to monitor production, storage and distribution of banknotes."
In the previous hearing, the RBI had argued that this exercise was only for exchange of notes, and after September 30 — the deadline for exchanging currency notes of Rs 2,000 denomination — a decision may be taken after seeing a result of the exchange.
On Tuesday i.e., May 23, the court had reserved its decision after hearing the matter. -- aaa
RBI has advised the public to deposit their ₹2,000 notes into their bank accounts and/or exchange them into bank notes of other smaller denominations at any bank branch until 30 September.
The Indian Express’ UPSC weekly news express covers some of the important and burning topics of current affairs news from this week to help you prepare for UPSC-CSE. Try out the MCQs and check your answers provided towards the end of the article.