The Reserve Bank of India (RBI) has recently provided reassurance to the public regarding the validity and acceptance of Rs 2000 notes.
In a statement issued by the central bank on Monday, it said there is no reason for individuals to rush to banks to exchange or deposit these notes. This announcement aims to address the rumours and concerns circulating among the public about the future of the high-value denomination.
The RBI Governor, ShaktiKanta Das, said there is no reason to rush to banks now and people have four months, till September 30.
Das further said the deadline has been given so that people would take it seriously and make an effort to return Rs 2000 denominations. He said banks have been advised to make arrangements for the exchange and the RBI has more than the required notes already printed.
RBI Governor, in a recent press conference, highlighted the need for people to rely on official communications from the central bank rather than base their actions on hearsay or rumours. He urged the public to exercise caution and refrain from indulging in speculative activities related to the currency notes.
The central bank further explained that any decision regarding the withdrawal or discontinuation of a particular currency denomination rests solely with the government. As of now, no such decision has been taken with regard to the Rs 2,000 note. Therefore, the public can continue to use and hold these banknotes without any apprehension.
The Rs 2,000 banknote was introduced by the RBI in November 2016 as part of the government’s demonetisation exercise. It was designed to facilitate high-value transactions and reduce the volume of currency in circulation.
The window to exchange these notes is from May 23 to September 30. They can be exchanged at the 19 RBI regional offices or banks.
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