According to the Business Standard, the Reserve Bank of India has reported that 93% of Rs 2000 rupee notes worth Rs 33,200,000 crore (or Rs 3.32 trillion) have been returned to banks by end of August.
The government had announced in May that the 2000 rupee note would no longer be valid currency by the end of September. Because, it claimed that "the notes had outlived their 'natural life."
It may be recalled that these notes were introduced during demonetization in November 2016, along with other Rupee 50 and 20 notes, that have not been withdrawn.
Foot Note to the saga
One wonders :
how older 500 rupee notes are doing just fine.
why smaller currency notes printed at the time - like the ridiculous Rupee 20 notes that are often mistaken for the Rupee 200 notes- are also apparently doing just fine
or why such a large currency value note was introduced in the first place if black money was the target, which we all know by now, it wasn't.
so whose or what natural life is really over for the Rupee 2000 note to finally cease its pink existence?
But wonders never cease of course, because the government never gives a straight and honest answer
Ends
Comments