97.69 per cent of Rs 2000 currency notes returned, Rs 8,202 crore yet to come: RBI
Business | April 01, 2024 20:14 ISTThe Reserve Bank of India said the Rs 2,000 notes, that were in circulation till May 19, 2023, continue to be legal tender.
The Reserve Bank of India said the Rs 2,000 notes, that were in circulation till May 19, 2023, continue to be legal tender.
The Reserve Bank of India (RBI) declared the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023.
The Modi government took many key decisions in a bid to improve people’s life, especially the unprivileged, and to accelerate India's development journey in various sectors ensuring country’s overall progress. Let’s take a look at some of them.
The Reserve Bank of India said the Rs 2,000 notes, that were in circulation till May 19 this year, continue to be legal tender.
The Reserve Bank of India had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. The Central bank said Rs 2,000 notes worth 10,000 crore are yet to return to the banking system.
Rs 2,000 notes deadline over: On Sept 30, RBI decided to extend the arrangement for deposit and exchange till Oct 7. With effect from Oct 8, 2023, banks shall stop accepting Rs 2,000 notes for credit to accounts or exchange to other denomination banknotes.
Rs 2,000 note: The Reserve Bank of India announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
Rs 2,000 banknotes available for use as at the end of business on July 31 stayed at Rs 0.42 lakh crore, the release said.
The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said.
The high court maintained it cannot be said that the government's decision is perverse or arbitrary or it encourages black money, money laundering, profiteering or abets corruption.
Delhi High Court dismisses plea by Ashwini Upadhyay against exchange of Rs 2000 notes without filling forms or showing id proof.
Delhi news: The complainant stated that he went to a petrol pump in South Extension Part-1 to fill petrol in his scooter.
After the decision to withdraw the currency, almost 90 per cent of the cash received is of Rs 2,000 notes, the Punjab Petroleum Dealers Association said on Thursday.
Delhi HC on Rs 2,000 notes: The bench of Justices Satish Chander Sharma and Subramonium Prasad said the court will pass the appropriate order while keeping the order reserved.
PM Modi was not at all in favour of Rs 2,000 notes. But, as demonetisation was to be done in a limited time, he gave reluctant permission for it, said former Principal Secretary to Prime Minister Narendra Modi.
The BJP's spin that the Rs 2000 notes are being withdrawn to unearth black money stands demolished. Ordinary people do not have Rs 2000 notes, said P Chidambaram.
According to Das, the deadline was imposed primarily with the intention of encouraging people to return the notes.
Rs 2,000 note ban: PNG Jewellers Chairman and Managing Director Saurabh Gadgil said, "The practice of taking Rs 2,000 notes in lieu of gold at a premium rate is something that may exist only in the unorganised sector. The organised jewellery players stay miles away from such things."
P Chidambaram on Rs 2,000 note: Chidambaram said that he expected the Government of India to reintroduce the Rs 1,000 currency note in the market and added that withdrawing Rs 1,000 and Rs 500 currency notes were a grave mistake and not accepted by the people of the country.
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