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The Reserve Bank of India has decided to discontinue the circulation of 2000 denomination banknotes, however, they will remain legal tender.
It has directed banks to stop issuing 2000 denomination bank notes immediately. In November 2016, bank notes of 2000 denomination were launched in accordance with Section 24(1) of the Reserve Bank of India Act, 1934, primarily to address the economy’s need for faster cash in use at that time. Withdrawal of legal tender status of Rs 500 and Rs 1000 bank notes.
After September 30, the ₹2000 currency note will still be considered legal money. RBI estimates that four months will be enough for people to exchange notes with banks. As promised, most of the ₹2000 notes in use will be returned to the banks by 30 September.
The production of ₹2000 notes was discontinued in 2018-19. A little over 89% of banknotes in the denomination of ₹2000 were printed before March 2017 and are nearing the end of their expected life of 4-5 years.
See also: ‘Duplicity’, Internet slams Ashneer Grover over BMW bike rental strategy for engineers at BharatPe
Let’s have a look at the memes related to some of the news that are going viral on social media after getting the news.
The Reserve Bank of India has decided to discontinue the circulation of 2000 denomination banknotes, however, they will remain legal tender.
It has directed banks to stop issuing 2000 denomination bank notes immediately. In November 2016, bank notes of 2000 denomination were launched in accordance with Section 24(1) of the Reserve Bank of India Act, 1934, primarily to address the economy’s need for faster cash in use at that time. Withdrawal of legal tender status of Rs 500 and Rs 1000 bank notes.
After September 30, the ₹2000 currency note will still be considered legal money. RBI estimates that four months will be enough for people to exchange notes with banks. As promised, most of the ₹2000 notes in use will be returned to the banks by 30 September.
The production of ₹2000 notes was discontinued in 2018-19. A little over 89% of banknotes in the denomination of ₹2000 were printed before March 2017 and are nearing the end of their expected life of 4-5 years.
See also: ‘Duplicity’, Internet slams Ashneer Grover over BMW bike rental strategy for engineers at BharatPe
Let’s have a look at the memes related to some of the news that are going viral on social media after getting the news.
