It has been a week since the announcement of withdrawal of Rs 2000 note. This week, the work of changing 2000 rupee notes has started in banks.
Along with this, like demonetisation, the work of banks has also increased in exchanging notes. The Reserve Bank will also have to do more work in this situation.
Increased demand for Rs 500 notes
Actually, the direct effect of changing 2000 rupee note is on 500 rupee note, whose demand has suddenly increased. Due to this, the Reserve Bank has to work day and night. It is being told in the news that the Reserve Bank is working round the clock to ensure adequate availability of Rs 500 notes in place of Rs 2000 notes.
2000 note came because of this
In November 2016, after demonetisation, the Reserve Bank had introduced a 2000 rupee note. During demonetisation, the then prevalent Rs 500 and Rs 1000 notes were discontinued. At that time there was a need to supply a huge amount of cash at one go, that’s why the Central Bank decided to introduce a large currency of 2000 rupees in the market.
2000 notes being exchanged
Now that demonetisation has been announced, the task of printing Rs 500 notes in large quantities has come before the Reserve Bank. The Reserve Bank had told that at present Rs 2000 notes worth Rs 3.62 lakh crore are in circulation in the market. In their place, the Reserve Bank will have to print 500 rupee notes of this value. This is the reason why the Reserve Bank has to work day and night.
can deposit in account
Let us tell you that the Reserve Bank has not closed the 2000 rupee note. The Central Bank says that these notes can still be used in transactions. Although the Reserve Bank has advised people to go to the bank to exchange 2000 rupee notes by 30 September 2023. A person can exchange 10 notes of 2000 rupees i.e. up to 20 thousand rupees at a time. The process of exchanging notes has started in all bank branches from May 22. People can also get these notes deposited in their accounts. There is no maximum limit for depositing notes in a bank account.
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