2000 Rupee Notes

The Reserve Bank on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system, and only Rs 10,000 crore worth of such notes are still with the public.

The Reserve Bank of India said today that 50 per cent of the Rs 2,000 notes in circulation have come back, around 20 days after their withdrawal was announced.

2,000 Notes Withdrawn: The Delhi High Court on Monday dismissed a plea challenging notifications enabling exchange of Rs 2,000 currency notes without any requisition slip and ID proof.

The bank clarified that the Rs 2000 notes will continue to be legal tender even after September 30.

Lashing out at the ruling DMK government, Tamil Nadu BJP chief K Annamalai has urged Union Finance Minister Nirmala Sitharaman to "track the surge of incoming 2000 rupee notes", especially from the state's "Co-operative Banks/Societies and TASMAC."

Former Chief Economic Adviser Krishnamurthy Subramanian on Saturday said the Reserve Bank of India (RBI)'s withdrawal of the circulation of Rs 2,000 note "will not affect the common man of the society".

The Reserve Bank of India is withdrawing the highest-value currency note just months before an election, when cash in circulation typically surges.

A demand to gradually phase out 2,000 rupee currency notes was made in the Rajya Sabha on Monday with BJP MP Sushil Kumar Modi saying citizens holding such banknotes should be given two years to deposit them.

The comment comes a day after a media report, which stated that the government has stopped printing 2,000 rupee notes and plans to phase it out.

According to the RBI data, there were 3,285 million pieces of Rs 2,000 notes in circulation at end-March 2017. A year after (on March 31, 2018), there was only a marginal increase in the number at 3,363 million pieces.

The printing of Rs. 2,000 notes, which debuted after Prime Minister Narendra Modi's shock demonetisation move in 2016, has been reduced to the "minimum" by the Reserve Bank of India (RBI), a top finance ministry official said today amid reports that it is being phased out.

The government has much explaining to do. The people of India have not given it the mandate to destroy the banking system of the country and ruin its economy.

The government today asserted that the new 500 and 2,000 rupee notes have single unique dimension, a statement that came on a day when opposition parties led by the Congress stalled proceedings in the Rajya Sabha alleging that notes having different sizes.

The Income Tax department, Enforcement Directorate and other government agencies have seized Rs 141.13 crore worth of new currency notes of Rs 2,000 and Rs 500 while acting in different parts of the country, Lok Sabha was informed today.

Advocating the move, Home Ministry officials said most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.

The Reserve Bank on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system, and only Rs 10,000 crore worth of such notes are still with the public.

The Reserve Bank of India said today that 50 per cent of the Rs 2,000 notes in circulation have come back, around 20 days after their withdrawal was announced.

2,000 Notes Withdrawn: The Delhi High Court on Monday dismissed a plea challenging notifications enabling exchange of Rs 2,000 currency notes without any requisition slip and ID proof.

The bank clarified that the Rs 2000 notes will continue to be legal tender even after September 30.

Lashing out at the ruling DMK government, Tamil Nadu BJP chief K Annamalai has urged Union Finance Minister Nirmala Sitharaman to "track the surge of incoming 2000 rupee notes", especially from the state's "Co-operative Banks/Societies and TASMAC."

Former Chief Economic Adviser Krishnamurthy Subramanian on Saturday said the Reserve Bank of India (RBI)'s withdrawal of the circulation of Rs 2,000 note "will not affect the common man of the society".

The Reserve Bank of India is withdrawing the highest-value currency note just months before an election, when cash in circulation typically surges.

A demand to gradually phase out 2,000 rupee currency notes was made in the Rajya Sabha on Monday with BJP MP Sushil Kumar Modi saying citizens holding such banknotes should be given two years to deposit them.

The comment comes a day after a media report, which stated that the government has stopped printing 2,000 rupee notes and plans to phase it out.

According to the RBI data, there were 3,285 million pieces of Rs 2,000 notes in circulation at end-March 2017. A year after (on March 31, 2018), there was only a marginal increase in the number at 3,363 million pieces.

The printing of Rs. 2,000 notes, which debuted after Prime Minister Narendra Modi's shock demonetisation move in 2016, has been reduced to the "minimum" by the Reserve Bank of India (RBI), a top finance ministry official said today amid reports that it is being phased out.

The government has much explaining to do. The people of India have not given it the mandate to destroy the banking system of the country and ruin its economy.

The government today asserted that the new 500 and 2,000 rupee notes have single unique dimension, a statement that came on a day when opposition parties led by the Congress stalled proceedings in the Rajya Sabha alleging that notes having different sizes.

The Income Tax department, Enforcement Directorate and other government agencies have seized Rs 141.13 crore worth of new currency notes of Rs 2,000 and Rs 500 while acting in different parts of the country, Lok Sabha was informed today.

Advocating the move, Home Ministry officials said most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.