RBI withdraws ‘Rs 2,000’ note: Exchange facility available in banks till September 30 | DETAILS

RBI withdraws Rs 2,000 note: Rs 2,000 denomination banknote was introduced in Nov 2016, primarily to meet the currency requirement of economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.

RBI withdraws Rs 2,000 note: The Reserve Bank of India has decided to withdraw the Rs 2,000 denomination banknotes from circulation but they will continue to remain as legal tender. It has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect. Meanwhile, RBI said that citizens will continue to be able to deposit Rs 2,000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch up to September 30, 2023.

The Rs 2,000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1,000 banknotes in circulation at that time.

The objective of introducing Rs 2,000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2,000 banknotes was stopped subsequently in 2018-19, stated RBI. About 89 per cent of the Rs 2000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life span of four-five years.

Congress tells defectors to check for Rs 2,000 currency notes in ‘khoke’

In an apparent jibe at defectors, the Goa Congress asked them to check their ‘khoke’ (crores of rupees) to see if they consist of Rs 2,000 banknotes, which were withdrawn from circulation by the RBI on Friday. “Hello Defectors! Keep check on Rs 2,000 notes in your #Khoke, otherwise it will not be OK,” Amarnath Panjikar, head of Goa Congress media cell, tweeted. September 14, 2022, former Chief Minister Digambar Kamat, Michael Lobo, Delilah Lobo, Kedar Naik, Sankalp Amonkar, Rajesh Faldesai, Aleixo Sequeira and Rudolf Fernandes had jumped the ship from the Congress to the BJP, reducing the grand old party’s strength to just three in the 40-member Goa Assembly. The very next day, then Congress’ Goa desk in-charge Dinesh Gundu Rao had alleged that the BJP paid Rs 30-40 crore each to the MLAs to defect, questioning why the Income Tax Department or the Enforcement Directorate was not looking into the issue. Rao had said that a ‘split’ conspiracy was hatched by the BJP in collusion with Digambar Kamat and Michael Lobo. “These eight MLAs defected for power, money and to avoid threats from the agencies for whatever wrong they have done,” he had said.

Akhilesh Yadav hits out at govt over withdrawal of Rs 2,000 notes

Samajwadi Party president Akhilesh Yadav targeted the BJP-led government at the Centre on Friday over the RBI’s decision to withdraw Rs 2,000 currency notes from circulation, saying “some people realise their mistakes too late”. The Reserve Bank of India on Friday announced the withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Reacting to the development, Yadav tweeted in Hindi, “Some people realise their mistake too late… The same happened in the case of the Rs 2,000 note, but the people and the economy of this country will have to pay for it.” “Governance works not through arbitrariness but through wisdom and honesty,” the former Uttar Pradesh chief minister added. In a statement issued in the evening, the RBI said Rs 2,000 notes currently in circulation will continue to be legal tender. It said the notes can be exchanged in banks from May 23. According to the RBI, around 89 per cent of the Rs 2,000 notes were issued before March 2017 and are nearing the end of their estimated life of four-five years.

Demonetisation has come full circle: Chidambaram after RBI announces withdrawal of Rs 2,000 notes

Senior Congress leader P Chidambaram on Friday hit out at the government after the RBI announced the withdrawal of Rs 2,000 currency notes from circulation, saying the Rs 2,000 note was a “band-aid” to cover up the “foolish decision” of demonetising Rs 500 and Rs 1,000 notes. The former Union finance minister said that a few weeks after demonetisation, the government and the RBI were forced to re-introduce the Rs 500 note and he will not be surprised if the Centre re-introduces the Rs 1,000 note as well. In a surprise move, the Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.

News Sources – India Tv News