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 is also providing Triple Lock Receptacle(TLR) forms to individuals for a deposit of Rs 2,000 currency notes in their bank account. Scroll down to read the story in detail.
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.
The Rs 1,000 notes did not remain a legal tender after PM Modi announced demonetisation on November 8, 2016. There have been speculations of its re-introduction since RBI's announcement on the withdrawal of Rs 2,000 notes from circulation.
The Reserve Bank of India said that the decision was taken after the review. Earlier it had said that 90 per cent of the notes had already returned to the system.
Rs 2000 notes will remain legal tender even after September 30, but they will not be accepted for transactions. In such a situation, the remaining notes can be exchanged only with RBI.
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.
Shaktikanta Das had said around Rs 1.8 lakh crore worth of the Rs 2,000 notes in circulation had been returned, with the remaining balance being exchanged for deposits and deposits of 8 lakh crore.
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 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.
According to Das, the deadline was imposed primarily with the intention of encouraging people to return the notes.
Confusion is sought to be created even after the detailed RBI notification issued on Friday evening. Some opposition leaders are trying to project this as another round of demonetization. Some have claimed there will again be long queues outside banks for exchange of notes.
Rs 2,000 notes to be withdrawn: The demonetisation witnessed a number of stories some of them were hilarious while others were heart-rending.
RBI's announcement that it will withdraw Rs 2,000 notes triggered criticism from the Opposition leaders. Leading the attack against the Centre, Congress asked what about the promises made by the government in 2016 while releasing the note.
Reserve Bank of India asked people to exchange Rs 2,000 at banks by September 30, 2023. The facility for exchange of Rs 2,000 bank notes up to the limit of Rs 20,000 at a time.
Rs 2,000 currency notes have not been printed in the last two years, the government informed the Lok Sabha on Monday.
Ever since ₹2000 notes came into circulation in India, several claims have been galore. ATMs ceasing to dispense ₹2000 notes is the most common claim that rises from the dead every now and then.
Amid speculations that Government is planning to around to discontinue high-value notes (Rs 2000) from circulation, Minister of State for Finance Anurag Thakur has said that government has 'no plan' to withdraw Rs 2,000 notes and these are being dispensed through many bank ATMs.
Messages are being widely circulated on social media platforms like WhatsApp, Facebook and YouTube claiming that the RBI will discontinue ₹ 2,000 notes and issue new ₹ 1,000 notes. But, has RBI issued new Rs 1000 currency notes?
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