New Delhi: Reserve Bank Governor Shaktikanta Das on Wednesday stressed that the entire process of withdrawal of Rs 2000 notes will be non-disruptive, and the Central Bank has been monitoring the situation regularly.
The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2000 denomination banknotes as part of its currency management.
It has maintained that this wasn’t demonetisation as the 2000 rupee notes continue to be legal tender, meaning they can be used for making payments.
Replying to questions at an event organised by industry body CII, Governor Das said the entire process of withdrawal of the high-denomination currency will be non-disruptive.
“The entire process will be non-disruptive. We have made our analysis about that,” the Governor said.
Das also said RBI is monitoring the situation regularly and so far there is no concern or major issue.
Dear Reader,
Every day, our team at EastMojo travels through rain, rough roads, and remote hills to bring you stories that matter – stories from your town, your people, your Northeast.
We do this because we believe in truthful, independent journalism. No big corporate backing, no government pressure – just honest reporting by local journalists who live and breathe the same air you do.
But to keep doing this work, we need you. Your small contribution helps us pay our reporters fairly, reach places others ignore, and keep asking the tough questions.
If you believe the Northeast deserves its own fearless voice, stand with us.
Support independent journalism. Be a Member.
Thank you,
Karma Paljor
Editor-in-Chief, eastmojo.com
The 131-day window to exchange 2000 rupee currency notes opened on Tuesday.
The Rs 2000 notes constitute around 10.8 per cent of total currency in circulation or Rs 3.6 lakh crore. The notes can be exchanged or deposited till September 30, 2023.
Also Read | RBI expects most Rs 2,000 notes returned by Sep 30: RBI Governor