RBI governor said that there is no need to panic regarding Rs 2000 note
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The RBI governor said that anyone who has a Rs 2,000 note can deposit it in his bank account or exchange it for any other denomination currency. Banks have been advised to make necessary arrangements for exchange of Rs 2,000 notes. We expect most of the Rs 2,000 notes to be returned by the September 30 deadline. Das said, “There is already enough cash in the system. Not only the Reserve Bank, there is enough cash in the currency chests operated by the banks. nothing to worry about.’ He said that the Reserve Bank is sensitive to the problems of the people. If people face any kind of problem, then the central bank will bring regulation if needed.
The Governor said that the decision to withdraw the Rs 2000 note would have a marginal impact on the economy. This is because its share in total currency circulation is only 10.8 percent. He said that the Rs 2,000 note was introduced to compensate for the currency withdrawn after the 2016 demonetisation. We have enough notes. That’s why there is no need to panic. As per the existing rules, PAN has to be given for deposits of Rs 50,000 or more. Das said that this arrangement will continue in the process of depositing Rs 2000 notes as well. He said that the liquidity position in the system is being closely monitored. India’s currency management system is very strong and despite the Ukraine war and the collapse of some banks in the West, India’s exchange rate has remained stable.
Key points of Shaktikanta Das’s statement…
Don’t panic in changing 2000 rupee note
Purpose of bringing 2000 note fulfilled
Banks will keep full details of Rs 2000 notes
4 months to exchange notes
Will be deposited according to the existing rules only
Printing of 2000 notes has stopped.
Information will have to be given on deposits of more than 50,000 thousand
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