Soon after 2 years Of Its Launch, RBI Stops Printing Of Rs 2000 Notes:
The Reserve Bank of India (RBI) has apparently quit printing Rs 2,000 cash notes as the administration speculates the high category banknote was "being utilized for accumulating, tax avoidance and tax evasion," a media report said.
Note that, the report doesn't imply that Rs 2,000 notes will wind up invalid. The declaration comes after broker Uday Kotak had said that the result of the disputable demonetisation drive would have been "essentially better" if "basic things" like presenting Rs 2,000 money notes were maintained a strategic distance from.
"I figure we would have had altogether better results on the off chance that we had quite recently contemplated straightforward things. In the event that you are taking out Rs 500 and Rs 1,000 notes, for what reason would you present Rs 2,000 notes? " Kotak had inquired.
As of March 2018, the aggregate estimation of the cash available for use was Rs 18.03 lakh crore, of which Rs 6.73 lakh crore, or 37 percent, was in Rs 2,000 notes, and Rs 7.73 lakh crore, around 43 percent, in Rs 500 notes. The remaining was in the lower categories.
The RBI's yearly report, discharged in August 2018, uncovered that just 7.8 crore notes of the Rs 2,000 were included 2017-18, taking the aggregate number of bills available for use to 336.3 crore as of March 2018.
In 2016-17, 328.5 crore Rs 2,000 notes were available for use.
The offer of the Rs 2,000 notes in the aggregate money available for use has diminished too: In March 2018, it was 37.3 percent, a fall of almost 13 rate focuses from 50.2 percent as of March 2017.
The offer of the Rs 500 notes available for use has expanded as well, from 22.5 percent in March 2017 to 42.9 percent in March 2018.
0 comments:
Post a Comment