The effect of the Reserve Bank of India's withdrawal of 2000 notes from circulation is increasingly visible. People in banks are depositing or exchanging 2000 notes in a hurry. According to the latest figures, since May 19, 76 percent of the notes with the banks have been returned to the banks. While 87 percent notes have been changed.
From May 19, people are exchanging or depositing 2000 notes in banks. Looking at the figures, till May 19, about 3.56 trillion notes were in circulation in the market. In which about 2.76 trillion 2000 notes have been returned to the banks. If the work of depositing or exchanging notes continues at this pace, then RBI will now achieve the target before the deadline.
Time till 30 September
RBI Governor Shaktikanta Das had appealed to the people to deposit their notes in the bank by 30 September or get them changed. These notes will not be exchanged after September 30. According to the data released by the Reserve Bank of India on Monday, 2000 notes are returning very fast to the banks. RBI is constantly appealing to the people not to wait for the last minute. The effect of RBI's appeal is also visible. The return of 87 percent of the notes in circulation since May 19 is a proof of this.
Many offers to exchange notes
People do not have to queue in banks and so that people's notes can be used without any hassle, many companies including Amazon, Zomato are giving many types of offers to the people. Someone is offering a discount. So someone is trying to spend 2000 notes by giving different offers. From the speed of note return in banks, it can be said that 100 note can be returned in circulation before 30 September.
No comments:
Post a Comment