RBI to withdraw Rs 2000 currency note from circulation but it will continue to be legal tender.

Neonman wrote:

2024 election...

It is indeed a very good step but taken very late.

xuseronline wrote:

It is indeed a very good step but taken very late.

Y ??  Earlier also when they introduced 2000 rs note that time also it was very good plan  and now what happened to the same action ... Earlier they introduced  2000 rs note  with a tagline this will  remove corruption ..

rockrocky2 wrote:

1 only

Lamination kardo bhai...

popeyemask wrote:

What's the intention of government in taking this step

Given the present state of affairs/transparency/collapse of autonomous institutions, we may never be able to know the real reason for this:

(1) Obvious reason could've been, starving the black money accumulators/ rival political parties for cash for 2024 elections. However the notes have been out of circulation/printing since 2018, so this outcome is not very surprising and others may be prepared for it.

(2) Genuine reduction in demand for high value notes in the market, as claimed by the Govt. This proves Replacement of 1000 and 500 notes with 2000 was a foolish impractical decision.

(3) Poor quality printing machines procured, resulting in deterioration/mutilation of notes before their scheduled life of 5 years. There were already reports of defective 2000 notes getting printed with colours bleeding when soaked in water.

(4) Gradual shift towards digital currency, regulated (read manipulated) by Govt (read Adani/Ambani)

When it was introduced, I criticized it... now they are banning and I am appreciating it. Simple -)

aam_aadmi wrote:

Given the present state of affairs/transparency/collapse of autonomous institutions, we may never be able to know the real reason for this:

(1) Obvious reason could've been, starving the black money accumulators/ rival political parties for cash for 2024 elections. However the notes have been out of circulation/printing since 2018, so this outcome is not very surprising and others may be prepared for it.

(2) Genuine reduction in demand for high value notes in the market, as claimed by the Govt.

(3) Poor quality printing machines procured, resulting in deterioration/mutilation of notes before their scheduled life of 5 years. There were already reports of defective 2000 notes getting printed with colours bleeding when soaked in water.

rusty.james wrote:
Padh lo, sayad pata chal jaye why

Bata to do yaar itna ni samajh aata

xuseronline wrote:

When it was introduced, I criticized it... now they are banning and I am appreciating it. Simple -)

Y any basis for this

Isme hot kya hai bhai 😂

Masterstroke

Ahtsham wrote:

Masterstroke

How

John_Wick wrote:

Bhai market se gayab ho gaya hai wo note😁

Bank mein bhi nhi milta hai ab.🤫

popeyemask wrote:

Y ??  Earlier also when they introduced 2000 rs note that time also it was very good plan  and now what happened to the same action ... Earlier they introduced  2000 rs note  with a tagline this will  remove corruption ..

popeyemask wrote:

How

• The central bank has asked people to deposit the Rs 2,000 banknotes into their accounts and/or exchange them into banknotes of other denominations at any bank branch.
• Exchange facility for Rs 2,000 bank notes up to Rs 20,000 at a time would be available from May 23, said an RBI statement.

• The RBI has asked banks to provide deposit and/or exchange facility for Rs 2,000 notes until September 30, 2023.

Masterstroke

Snapz wrote:
They banned 500-1000 notes -> negative repercussions-> introduced 2000 notes in hurry -> now rectifying their mistake 

Sunny__123 wrote:

It seems that inbuilt Chip of ₹2000 notes didn't work.

Those chips have to be updated for working on 5G.

Snapz wrote:
They banned 500-1000 notes -> negative repercussions-> introduced 2000 notes in hurry -> now rectifying their mistake 

They need to remove 500 note also. Only need to keep notes up to 200 only. 

popeyemask wrote:
Bro no action like these r taken in hurry
It was all pre-planned ... U can say execution was not good

2000 note only introduced to Remonetize fastly. Otherwise big notes are not good weapon to fight note hoarders. 

Great.

Notebandi 2.0

Just wastage of public money.

popeyemask wrote:
Bro no action like these r taken in hurry
It was all pre-planned ... U can say execution was not good

only big businessman hold common peoples nothings hold

Bk100 wrote:

They need to remove 500 note also. Only need to keep notes up to 200 only. 

No.

500 and in fact 1000 notes are also necessary.

Because now a days online transactions getting charged by convenience fee.

Ek 800 ka note hee chala do new

Bk100 wrote:

2000 note only introduced to Remonetize fastly. Otherwise big notes are not good weapon to fight note hoarders. 

2000 bank note was too high value for day to day transactions of the common man which are the crux of monetization requirements. Could never have remonetized the demand of 500/1000

Shubham021 wrote:

No.

500 and in fact 1000 notes are also necessary.

Because now a days online transactions getting charged by convenience fee.

Cash transactions will become more costly in coming days. Big shops will soon start to charge more if you pay by cash in coming days because handling large amount of cash becoming expensive now. 

Shubham021 wrote:

Great.

Notebandi 2.0

Hope this one has a good strategy this time

If we're fortunate to see black money people in the bank queue for 2000 ka Note ka exchange