Impact of Rs 2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7% in Feb
The growth rate of currency in circulation slowed down to 3.7% for the week ended February 9, compared to 8.2% a year earlier, due to the Reserve Bank of India's decision to withdraw Rs 2,000 banknotes. Currency in circulation includes all notes and coins in circulation, excluding cash held by banks. Commercial banks also saw double-digit growth in deposits in January, which can be linked to the withdrawal of Rs 2,000 notes. Key Points
Economic TimesRs 2,000 banknote deposit, exchange facility not available in RBI’s Mumbai Regional Office on Jan 12
The RBI said last week that Rs 2,000 banknotes continue to be legal tender and that 97.38 per cent of the withdrawn notes have returned to the system. Key Points
Business TodayHC likely to pass order on Monday on PIL against withdrawal of Rs 2,000 banknotes
The Delhi High Court is likely to pronounce on Monday its order on a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard. Key Points
Economic Times72% of Rs 2,000 notes have been deposited or exchanged in banks: RBI Governor Shaktikanta Das
As per Das, Rs 2,000 banknotes valuing Rs 2.62 lakh crore have been deposited or exchanged in banks so far. Key Points
Business TodayUP: Petrol pump worker drains out fuel from vehicle after man gives Rs 2,000 note | Video
A petrol pump worker in Uttar Pradesh's Jalaun drained out fuel from a vehicle after a man gave Rs 2,000 note. A video of the incident went viral on social media. Key Points
India Today
Rs 2,000 note withdrawal impact may be short-lived
This is because unlike in 2016, Rs 2,000 note is not being demonetised, said experts. Broadly, digital payments, consumer durables and bank deposits are expected to get a boost. Key Points
FinancialexpressYou can exchange Rs 2,000 notes from May 23: Check all important FAQs
The process to exchange or deposit Rs 2,000 notes, which were withdrawn from circulation last week, starts on May 23. Check these important FAQs for more clarity on the process. Key Points
India TodayRs 2,000 note only helped keepers of black money, says P Chidambaram
Hitting out at the Centre's move to withdraw the Rs 2,000 banknotes from circulation, senior Congress leader P. Chidambaram on Monday said that the Rs 2,000 denomination note only helped keepers of black money to hoard their money with ease . Key Points
Economic TimesRs 2,000 note with you? Here's a reality check if shops, vendors are accepting the pink notes
The RBI announced its decision to withdraw Rs 2,000 notes from circulation. Though it continues to be a legal tender, are small shops and vendors accepting the pink notes as payment? Which places are seeing transactions in Rs 2,000 currency notes? Here's what India Today reporters found out during a reality check. Key Points
India TodaySC rejects plea against exchange of Rs 2,000 notes without ID proof
The Supreme Court in India has rejected a notion against the Reserve Bank of India's (RBI) circular that permits exchange of INR 2,000 ($31) notes without identification. The high court had previously dismissed the plea. Lawyer Ashwini Kumar Upadhyay argued the notifications by the RBI and SBI permitting the exchange of INR 2,000 notes without proof were arbitrary and against the laws designed to reduce corruption. Key Points
Economic Times
Banks gear up for ₹2,000 note rush as RBI sets ground rules
India Business News: Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3. 6 Key Points
Times Of IndiaHow people are finding canny ways to spend their Rs 2,000 notes
The RBI's decision to withdraw the ₹2,000 currency note has launched a gold rush. Cash transactions have also sharply risen at petrol pumps and cash-paying customers are using ₹2,000 notes in nine out of ten cases. Meanwhile, if nothing else, God can help. Some people with undisclosed cash in ₹2,000 notes might try to circulate the cash through temples and other religious institutions. Key Points
Economic TimesProvide shade, water to people exchanging Rs 2,000 notes, RBI tells banks as drive kicks off tomorrow
The RBI's move came amid concerns about people facing the inconvenience of exchanging and depositing Rs 2,000 notes given the peak summer season. The central bank urged the public to exchange or deposit Rs 2,000 notes by at banks till September 30 this year. Key Points
India TodayIs 'second demonetisation' cover-up of wrong decision made earlier, asks Kharge
Opposition leaders have criticised the Indian government and questioned the motives behind the Reserve Bank of India's (RBI) decision to withdraw INR 2,000 ($27) notes, with the ruling Bharatiya Janata Party accused of distractions . Congress President, Mallikarjun Kharge, claimed the withdrawal was the second demonetisation and called for an independent investigation. The RBI said the move was due to the low usage of INR 2,000 notes for transactions. The notes can be deposited or exchanged at banks until 30 September. Key Points
Economic TimesRs 2,000 notes totalling Rs 9,760 cr still with public: RBI
The Reserve Bank of India (RBI) has announced that approximately 97.26% of the Rs 2,000 banknotes, amounting to around Rs 9,760 crore, have been returned to the banking system. The withdrawal of the Rs 2,000 denomination banknotes was declared on May 19, with the total value in circulation dropping from Rs 3.56 lakh crore on that date to the current amount. Key Points
Economic Times
Chaos, confusion on first day of Rs 2,000 note exchange in Delhi
Though the exchange or deposit facility will be available till September 30, people rushed to the banks in significant numbers on the first day itself. Tempers flared, and heated arguments erupted between the people and staff members at Punjab National Bank's Lajpat Nagar branch. Key Points
Economic TimesRBI says more than 97% of 2,000-rupee notes returned since May 2023
Over 97% of India's 2,000-rupee currency notes, withdrawn in May 2023, have been returned. The total value of banknotes in circulation reduced to 8,470 crore rupees. The return rate is modest compared to the previous report. The 2,000-rupee note remains legally valid tender. Key Points
Economic TimesNo proposal to extend deadline for exchange of Rs 2,000 notes: Finance Ministry
In a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary replied in negative to a question about whether there is a proposal to extend the deadline for the exchange of Rs 2000 in banks beyond September 30. At present, this matter is not under consideration, the minister said. Key Points
Economic Times₹1.8 lakh crore worth of ₹2,000 notes returned so far
“So far about Rs 1.8 lakh crore of Rs 2,000 notes have come back. This is roughly about 50 per cent of the Rs 2,000 notes which were in circulation on March 31,” Governor Shaktikanta Das said. Key Points
The HinduHow an Ahmedabad restaurant is cashing in on RBI's Rs 2,000 notes withdrawal with its 'pink' policy
In May, RBI withdrew Rs 2,000 notes from circulation but they remain legal tender until 30 Sept. Some establishments, like Ahmedabad Nini's Kitchen, are using this to attract customers. Key Points
ThePrintRBI says 97.5 pc of Rs 2,000 currency returned, Rs 8,897 cr worth of notes still with public
Mumbai, Feb 1 (PTI) The Reserve Bank of India (RBI) on Thursday said nearly 97.5 per cent of the Rs 2,000 bank notes have been returned to the banking system, and only about Rs 8,897 crore worth of the withdrawn notes are still with the public. On May 19, 2023 the RBI announced the withdrawal […] Key Points
ThePrintLast date to exchange Rs 2,000 notes nearly here: What happens after that?
The deadline for the depositing and exchanging Rs 2,000 currency notes ends on September 30. But what happens after that? Here is all you need to know. Key Points
India TodayCongress demands ‘white paper’ on the withdrawal ₹2,000 currency notes, says it will help black money hoarders
“We demand a white paper on why ₹2,000 notes were introduced and who all were saying that all black money will finish. Why was the decision to take back ₹2,000 notes made? We demand a composite white paper on this biggest loot in independent India,” said Congress spokesperson Gourav Vallabh at a press conference. Key Points
The HinduRs 2,000 note withdrawn from circulation, RBI says will remain legal tender
The Reserve Bank of India (RBI) on Friday decided to withdraw Rs 2,000 denomination banknotes from circulation. The central bank said that all Rs 2,000 currency notes must be exchanged before September 30, 2023. Key Points
India Today‘Monitoring the situation regularly, entire process to be non-disruptive’
"Yesterday there was no crowd anywhere. We are monitoring the situation regularly. I don’t think there is any concern or major issue which is coming off. Trade and business activities are going on,” Das said at an event organised by Confederation of Indian Industry (CII). Key Points
The Indian Express
The sight of pink makes them see red
In Lucknow, all medium and small shopkeepers have stopped accepting Rs 2,000 notes on the excuse that they do not have the change. It is only the multi-brand showrooms that are accepting the Rs 2,000 notes. Key Points
Economic TimesRs 2,000 notes spur gold, realty sales
A jeweller in Delhi's posh Green Park area had to lower the shutters due to heavy client traffic on Monday. And a similar incident also took place in a jewellery shop in Noida's GIP mall. Key Points
FinancialexpressRBI says Rs 2,000 notes worth Rs 9,760 crore not exchanged, deposited
With this, 97.26 per cent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have been returned or exchanged. Key Points
India Today97.26% of Rs 2,000 banknotes in circulation returned: RBI
The total value of Rs 2000 banknotes in circulation stood at Rs 3.56 lakh crore as on the close of business on May 19, 2023, when the withdrawal of the banknotes was announced. Key Points
Business TodayRBI says 76 pc of Rs 2,000 notes returned to banks
As much as 76 per cent of the Rs 2,000 notes in circulation have been returned to banks, mostly through deposits, the Reserve Bank of India said on Monday. On May 19, RBI announced withdrawal of Rs 2,000 notes in circulation and gave public time till September 30 to either deposit the currency notes in their bank accounts or get them exchanged. Key Points
Economic Times
Shops cannot decline Rs 2,000 notes, says RBI chief Shaktikanta Das
The RBI governor's comment comes just days after the central bank withdrew Rs 2,000 from circulation. He clarified that it will continue to remain legal tender. Key Points
India TodayPhone retailers cash in on note withdrawal as sales show uptick
Smartphone shipments recorded its worst yet decline of 19% in the first quarter of 2023, as per Counterpoint Research which said it was the third consecutive quarterly decline. The research firm noted a change in consumer behaviour, with demand getting concentrated around promotional periods. Key Points
Economic TimesZomato says 72 per cent of its COD orders were paid in Rs 2,000 notes since RBI's recent announcement
RBI recently announced that it is withdrawing Rs 2,000 notes from circulation. And since then, it looks like people have started paying for food orders via Rs 2,000 notes. Zomato revealed the same in a tweet. Key Points
India Today