RBI closed printing of notes of 2,000 rupees two years after the ban on bondage; How safe has your cash?


After two years of shocking introduction, the Reserve Bank of India (RBI) has stopped printing of Rs 2,000 notes. This government wants to gradually reduce the trend of this high sect. According to the print of this step it will not mean that Rs. 2,000 notes in circulation will be void. However, this government wants to gradually get out of circulation.

This government has taken this decision with a doubt that the banknotes of these high sect are being used for hoarding, tax evasion and its funding. Its prominence was announced on November 8, 2016, Prime Minister Narendra Modi had declared the monument of notes of 1,000 rupees and 500 rupees as action against black money. This government had presented notes of Rs 2,000 to prevent the reduction of cash in the economy.

According to RBI data of March 2018, the total value of notes of Rs 2,000 in circulation was Rs 6.73 lakh crore or 37 per cent of total 18.03 lakh crore in circulation and its contribution of 500 rupees notes contributed nearly 43 per cent. Of total spread. These balances are less communal in practice.

It has made it easy to deposit money for the depositors and tax evaders, so taxing and reinstating the whole idea of ​​the government's intention to investigate money laundering. This introduction of Rs 2,000 rupees notes in the economy was criticized by the people because it diluted the notes of 1,000 rupees. In April of 2017, there was a lack of cash in many cities of the country. This government has argued that.

The reason for this may be that people hoard the cash before the state elections and after the PNB-Nirav Modi bank fraud. Because of this, the Income Tax Department seized a huge amount of Rs. 2,000 during the same period. Many prominent economists including Uday Kotak, Managing Director of Kotak Mahindra Bank, had sketched 1,000 rupees notes and doubted the government's move to present Rs 2,000 notes.

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