2000 Rupees Note: RBI Governor Shaktikanta Das said that within a month of the decision to withdraw Rs 2,000, more than two-thirds of Rs 2,000 notes have returned to the system. On May 19, 2023, under a policy by the Reserve Bank of India, it was decided to withdraw Rs 2000 notes worth Rs 3.62 lakh crore.
Announcing the second monetary policy review of the financial year on June 8, Shaktikanta Das had said that Rs 2,000 notes worth about Rs 1.8 lakh crore have returned, which was about 50 per cent of the notes in circulation till March 31. Out of this, 85 per cent were deposited and the remaining notes were exchanged.
How many prices have entered the system so far
In a report in PTI, Shaktikanta Das said that now more than two-thirds of the Rs 3.62 lakh crore (till March 31, 2023) or Rs 2.41 lakh crore worth of 2000 notes have been withdrawn into the system till the middle of last week. I am back. However, the central bank has fixed September 30, 2023 as the last day for exchange or deposit.
There will be no impact on monetary stability
Shaktikanta Das also said that the note withdrawal will not have any impact on monetary stability, but declined to comment on a recent analyst report that claimed the move would increase consumer spending, which has been under stress for some time. is in and that will help in return. Shaktikanta Das said that I do not think that demonetisation will have any negative effect on the economy.
Two thousand notes will remain legal tender
The central bank and the government estimate that GDP will be 6.5 percent in the current financial year, it will be 8.1 percent in the first quarter and it will decrease in the subsequent quarters. After issuing a recall order on May 19 and asking banks to open special counters to collect notes from the public from May 23, the central bank said that the existing Rs 2,000 denomination banknotes will continue to be legal tender. Shaktikanta Das said he was not sure whether he would ask the government to revoke the legal tender status of these notes after the September 30 deadline.
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