After demonetisation Rs. 8897 crore went where?, in banks Rs. Only 97.50% of 2000 notes were deposited

-


RBI 2000 Rupee Notes Data : 8 months have passed since demonetisation i.e. Rs 2000 notes were taken out of circulation on 19th May 2023 in the country, yet there are still Rs 8897 crore notes in the market. Despite the relentless efforts and awareness of the Reserve Bank of India (RBI) and the government, till now 2.50 percent has not returned to the banking system. RBI has released data on how many 2000 notes have been returned till the end of January-2024.

97.50 percent of 2000 notes returned to the banking system

According to the RBI, 97.50 percent of the 2000 notes withdrawn from circulation by January 31-2024 have returned to the banking system, while 2.50 percent of the notes i.e. Rs 8897 crore have not yet returned to the system. It is to be mentioned that the Reserve Bank had stopped 2000 rupee notes last year. Meanwhile, a total of 3.56 lakh crore rupees of 2000 notes were in circulation till May 19-2023.

The government took a decision in May

Reserve Bank of India has decided on 2000 rupee note as the largest currency in 19-May-2023. The deadline for returning the Rs 2000 note was set to September 30-2023, but after that, the deadline was relaxed again and it started taking the notes from October 8. The Reserve Bank of India has decided to stop 2000 rupee notes under the clean note policy.

2000 notes printing stopped from 2018-19

RBI has stopped printing of Rs.2000 notes from the year 2018-19. While in 2021-22, 38 crore worth of Rs.2000 notes were destroyed. After demonetisation in 2016, Rs.2000 notes came into the market. At that time, Prime Minister Narendra Modi announced the demonetisation of Rs 500 and Rs 1000 notes and replaced them with new Rs 500 and Rs 2000 notes.

Reserve Bank released this note in 2016

When Prime Minister Narendra Modi (PM Narendra Modi) announced demonetisation in the country on 8 November 2016, 500 and 1000 notes were canceled in circulation. This decision of the government caused a lot of uproar in the country, but later the new note became part of the currency market. The government had launched 200, 500 and 2000 notes but now 2000 notes have been recalled, after demonetisation in November 2016 the country was in a state of turmoil for the next few months. People had to stand in long queues at banks to deposit old notes and get new notes.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more