6 Dec 2019

Is Two Thousand Notes Going To Close?

 No one can forget the demonetisation, the night of 8 November 2016, when PM Modi announced the closure of 500 and 1000 rupee notes.  There was an atmosphere of chaos in the entire country, because these notes were left as a garbage and piece of paper.  After that many such rumors spread that the 2000 note is going off, the 500 note is going away, the 100-50 note is going off.

 In this episode, a news is coming from Kanpur of Uttar Pradesh, according to media reports, State Bank of India has removed 2000 notes from all its ATMs and 2000 notes will not be found in any SBI ATM in the district.  Sources say that cassettes of 2000 notes are also being removed from ATMs and now all this has to be done gradually in the whole country.  So is the government really going to stop 2000 notes also?

 Not only this, some government officials say that the Modi government wants to keep the 2000 notes short.  A great example of this is that by the end of March 2017, 328.5 crore 2000 rupee notes had been printed, while in March 2018 i.e. 1 year it increased marginally and the total number of 2000 notes reached 336.3 crores.  It is also being told that the RBI has stopped printing of 2000 notes.  Even in November 2018, it was revealed from an RTI that the Nashik Currency Note Press has not received orders to print 2000 rupee notes.

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