Page 3 - Rs 2000 Notes

Start exchanging Rs 2,000 notes from today; how to do it and other details

The bank customers can also deposit the Rs 2,000 notes in their bank accounts and withdraw them from an ATM or bank branch later

RBI asks banks to keep daily data on exchange, deposit of Rs 2,000 notes

Banks will have to submit the data 'as and when called for', says central bank in notification

Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks

RBI governor Shaktikanta Das said that after September 30, the further decision will be taken based on the number of notes deposited

Rs 2,000 note only helped keepers of black money, says Chidambaram

The Rs 2.000 note was a foolish move in 2016. I am glad that the foolish move is being withdrawn at least 7 years later," he added

Withdrawal of Rs 2,000 note political decision like demonetisation: Soren

Jharkhand Chief Minister Hemant Soren on Sunday alleged that the withdrawal of the Rs 2,000 currency note from circulation was a "political decision" similar to demonetisation. The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 currency notes, stating that the existing notes in circulation can either be deposited in bank accounts or exchanged by September 30. "This (withdrawal of Rs 2,000 currency notes) was a purely political decision like the 2016 demonetisation to protect their (BJP's) political identity but they stand exposed before the masses. Unfortunately, the life span of the Rs 2,000 currency note was just six to seven years," he said at an event here. Soren claimed that over 2 lakh small and medium industries were shut down due to demonetisation. "Every commodity has a life including cameras and mobile phones but unfortunately the life of the Rs 2,000 currency note lasted for only 6-7 years," he said. The Rs 2,000 denomination banknote was ...

State Bank of India sets Rs 2,000 currency note exchange cap at Rs 20,000

No form or identity proof needed to exchange Rs 2,000 notes, says SBI

Jewellers getting inquiries for gold after RBI withdraws Rs 2,000 notes

Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level. Currently, gold prices have corrected to around Rs 60,200 per 10 grams level in the country. "There have been a lot of inquiries about purchasing gold or silver with Rs 2,000 notes, hence the higher footfalls on Saturday. However, due to strict KYC norms actual purchase has been less," apex industry body All In

No form or identity proof required for exchanges of Rs 2,000 notes

No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation. RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender. In a communication to chief general manager of all its local head offices, State Bank of India (SBI) informed that the facility of exchange of Rs 2,000 notes by public up to a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip. With regard to deposit of such notes in own account, RBI has not specified any limit but it will be subject to compliance with extant Know Your Customer (KYC) norms and other ...

Rs 2,000 note withdrawal non-event, won't impact economy: Ex-finance secy

Withdrawal of Rs 2,000 currency notes is a 'non-event' and will have zero impact on the economy and monetary policy, former finance secretary Subhash Chandra Garg said on Saturday. The higher denomination currency note of Rs 2,000, he said, was pressed into service at the time of demonetisation in 2016 for 'accidental reasons' to meet the temporary currency shortage. With rapid growth of digital payments over the last five-six years, Garg said withdrawal of Rs 2,000 currency notes, which is actually a replacement by other denominations, will not affect total currency in circulation and therefore will have no monetary policy effect. "Neither will it affect the operation of India's economic and financial system. There is going to be zero impact on GDP growth or public welfare," he told PTI. In a surprise move, the Reserve Bank on Friday announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or .

Rs 2,000 note withdrawal to cover up drubbing in Karnataka polls: Stalin

After the landslide victory of Congress in Karnataka assembly elections, Stalin had said the BJP has been wiped out from Dravidian landscape

Only fair investigtion will reveal truth: Kharge on Rs 2000 note withdrawal

"Now the 'second demonetisation' on Rs 2,000 note... Is there a veil over the wrong decision? Only an unbiased investigation will reveal the truth," Kharge said

Selling lies: Pradhan slams Kejriwal for jibe at PM over note withdrawal

Union Minister Dharmendra Pradhan on Saturday accused Delhi Chief Minister Arvind Kejriwal of "selling lies", following the AAP leader's jibe at Prime Minister Narendra Modi over the RBI's decision to withdraw Rs 2,000 currency notes from circulation. Kejriwal had tweeted that it was first said that Rs 2,000 denomination banknotes will end corruption and now it is being said that withdrawing them will end corruption. "That is why I say that we should have an educated prime minister," he said, adding that people have to suffer otherwise. Hitting back, Pradhan said Rs 2,000 notes remain legal tender and added that the "educated chief minister is again out to sell lies". Citing a poem by Kabir, the Union minister said education alone does not make someone wise. Targeting Kejriwal over the alleged excise policy scam in which his former deputy Manish Sisodia has been arrested, Pradhan said it is natural for the "hardcore corrupt" living in 'sheesh mahal' to feel rattled. The 'mahal' r

Rs 2,000 note withdrawal: It'll be business as usual for mkts, say analysts

The RBI on Friday announced the withdrawal of the Rs 2,000 currency note, citing its 'Clean Note Policy'

No perceptible effect on economy: NITI Aayog VC on Rs 2,000 note withdrawal

The RBI's decision to withdraw Rs 2,000 currency notes from circulation will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit, former NITI Aayog Vice Chairman Arvind Panagariya has said. Panagariya further said the likely motive behind this move is to make the movement of illicit money more difficult. " We will not see any perceptible effect on the economy. Any currency in Rs 2,000 notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit. So money supply will not be impacted," he told PTI. Panagariya noted that Rs 2,000 currency notes represent only 10.8 per cent of the cash currently in the hands of the public and probably most of it is being used for illicit transactions. The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited

Here's what RBI's decision to scrap the Rs 2,000 note mean for the economy

"It will not create any big disruption, as the notes of smaller quantity are available in sufficient quantity but small businesses and cash-oriented sectors could see inconvenience in the near term"

BRS calls RBI's move to withdraw Rs 2,000 notes 'illogical, absurd'

The ruling party in Telangana- Bharat Rashtra Samithi- has slammed the Prime Minister Narendra Modi-led NDA government over the announcement by the Reserve Bank of India to withdraw Rs 2,000 denomination currency notes from circulation. The RBI on Friday night announced withdrawal of Rs 2,000 currency notes from circulation and said existing notes in circulation can either be deposited in bank accounts or exchanged by September 30. "The government of India's decision to withdraw Rs 2,000 notes is completely absurd and illogical. Actually Mr Narendra Modi has proven himself that he is an inefficient and incapable (PM), and the demonetisation that was announced in the year 2016 was completely a failure," the party's spokesperson Sravan Dasoju said in a video message released on Friday night. Alleging the note ban was a big "scam," Dasoju asked Modi as to what happened to the statements during the demonetisation in 2016 that it will "curtail black money and infiltration of ...

Mamata-Amit Malviya wage Twitter war over phasing out of Rs 2,000 notes

In a tweet, Banerjee said: "So it wasn't Rs 2,000 dhamaka but a billion dollar dhoka to a billion Indians", to which Malviya said "All the money, it seems, was collected in Rs 2,000 notes"

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Akhilesh Yadav hits out at govt over withdrawal of Rs 2,000 notes

Samajwadi Party president Akhilesh Yadav targeted the BJP-led government at the Centre on Friday over the RBI's decision to withdraw Rs 2,000 currency notes from circulation, saying "some people realise their mistakes too late". The Reserve Bank of India on Friday announced the withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Reacting to the development, Yadav tweeted in Hindi, "Some people realise their mistake too late The same happened in the case of the Rs 2,000 note, but the people and the economy of this country will have to pay for it." "Governance works not through arbitrariness but through wisdom and honesty," the former Uttar Pradesh chief minister added. In a statement issued in the evening, the RBI said Rs 2,000 notes currently in circulation will continue to be legal tender. It said the notes can be exchanged in banks from May 23. According to the RBI, arou

Rs 2,000 note was 'band-aid' to cover up demonetisation, says P Chidambaram

Senior Congress leader P Chidambaram on Friday hit out at the government after the RBI announced withdrawal of Rs 2,000 currency notes from circulation, saying the Rs 2,000 note was a "band-aid" to cover up the "foolish decision" of demonetising Rs 500 and Rs 1,000 notes. The former Union finance minister said that a few weeks after demonetisation, the government and the RBI were forced to re-introduce the Rs 500 note and he will not be surprised if the Centre re-introduces the Rs 1,000 note as well. In a surprise move, the Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender till September 30. In a tweet, Chidambaram said, "As expected, the government/RBI have withdr