2 Dec 2020

Is Government Closing Rs 2000 note

Is Indian Government is about to close Rs 2000 note?  This question was being asked for many days but once again it is being asked because 2000 thousand notes are not coming out of ATM machines.  

Also, 2000 banknotes are nowhere seen in the ATM machine.  Does that mean that Rs 2000 banknotes will not appear in the future from the ATM.

Central Bank, head LB Jha said that 2000 notes have not been received from RBI for many months.  Rs 2000 notes which are coming from branches have stopped in markets.

It is also reported that RBI has stopped printing of 2000 notes. In view of the crisis of 2000 note, 500 ATMs have removed counting machines of Rs 2000 notes from 58 ATM machines and Rs 500 counting machines have been installed. 

Union Bank is also putting 500, 200 and 100 notes in its ATMs. The banks have not been given 2000 notes from the RBI for 5 months, now the bank is also paying from the notes of Rs 500, Rs 200 and Rs 100, some similar situation is also with other banks. 

It is also reported that the government is going to discontinue two thousand notes and now bring a new note of one thousand to the market.

After the new note of one thousand, Rs 2000 will not be valid in the market.  Although this message is increasingly viral on WhatsApp groups. It is happening but the fact is that the lack of 2000 notes in the market and not paying the two thousand notes by the banks indicates that the government may soon take back Rs 2000/- notes.

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