The Reserve Bank of India (RBI) has announced that it will withdraw the Rs 2,000 notes from circulation after conducting a review. These notes were introduced in 2016 following Prime Minister Narendra Modi’s demonetization announcement.
However, the RBI clarified that the Rs. The 2,000 bills would remain legal tender, according to a statement issued by the bank.
“Given the above and in compliance with the ‘Clean Notes Policy’ of the Reserve Bank of India, it has been decided to withdraw the Rs 2000 denomination notes from circulation,” the RBI said.
In a recent notice, the Reserve Bank of India (RBI) has encouraged people to deposit their Rs 2,000 notes into their accounts or exchange them for notes of other denominations at any bank branch.
This announcement has unleashed a wave of creativity on social media, with Twitter awash with humorous memes saying goodbye to the ticket, quickly making it a top trend.
Scenes after RBI decides to withdraw Rs. 2000 notes#Demonetization #2000note pic.twitter.com/yKiZ5BV18T
— ͏ ͏ ͏ ͏ ͏. oɥʍnbbɐ (@aqquwho) May 19, 2023
** RBI decides to withdraw Rs. 2000 Notes ** Meanwhile Rs. 500 notes right now:- pic.twitter.com/KJeLKBdE3m
— Pulkit (@PulkitK107) May 19, 2023
2000 rupee bill: pic.twitter.com/d89V5jiuoa
—Shivam🚩 (@shiv_0769) May 19, 2023
RBI decides to withdraw Rs. 2000 notes pic.twitter.com/bJ43lP7Pqn
— Stock Market Shit Post (@StockMarketShit) May 19, 2023
6 years ago, they were 500 and 1000 rupee notes. Now is the time for 2000 rupee notes 👀#reservabancofindia #demonization pic.twitter.com/hOwsGnieYg
— Naman (@ama_joking) May 19, 2023
RIP note Rs 2000. pic.twitter.com/Tnkc12MNm0
— Krishna (@Atheist_Krishna) May 19, 2023
Mere pas sirf 1798 rupay hain#Demonetization 2000 rupee banknotepic.twitter.com/JVZnKAxQyM
— human (@humanbeing1857) May 19, 2023
RBI decides to withdraw Rs. 2000 notes. ripped 2000rs notes pic.twitter.com/31kSPzBjBl
—Aditi. (@Sassy_Soul_) May 19, 2023
Scenes after RBI decides to withdraw Rs. 2000 notes pic.twitter.com/AHwEhU5hw8
—Sagar (@sagarcasm) May 19, 2023
People who have a lot of Rs. 2000 bills at home pic.twitter.com/q9vc0LdRjS
—Sagar (@sagarcasm) May 19, 2023
From May 23 to 30, people can exchange or deposit their Rs 2,000 notes, with a daily limit of Rs 20,000. The decision to discontinue the printing of Rs 2,000 notes was taken during the 2018-19 period, as the goal of introducing them was achieved with an adequate supply of other denominations after demonetization.
Since its introduction, the circulation of Rs. 2,000 banknotes has decreased significantly. As of March 31, 2023, the total value of Rs 2,000 banknotes in circulation was only Rs 3.62 lakh crore, which is 10.8% of the total banknotes in circulation.
This decline has led to the recent move by the RBI to rationalize the currency and encourage a smoother transition to alternative denominations.
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Source: vtt.edu.vn