Thursday, September 28, 2023

RBI 500 Note: Demand for Rs 500 notes increased, working day and night without taking leave…

It has been a week since the announcement to withdraw the Rs 2,000 note was made. This week, the work of changing 2000 rupee notes has started in banks. Along with this, like demonetisation, the work of banks has also increased in note exchange. Reserve Bank also has to do more work in such a situation.

Increased demand for Rs 500 notes

Actually, the direct impact of the replacement of Rs 2000 notes on Rs 500 notes It is happening, whose demand has suddenly increased. Due to this, the Reserve Bank has to work day and night. It is reported in the news that the Reserve Bank is working round the clock to ensure adequate availability of Rs 500 notes in place of Rs 2000 notes. Note

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Reserve Bank had introduced Rs 2000 note after demonetisation in November 2016. During demonetisation, the then prevailing Rs 500 and Rs 1000 notes were discontinued. At that time, there was a need to supply a huge amount of cash at one go, that is why the Central Bank had decided to launch a large currency of Rs 2000 in the market.

2000 notes are being changed


Now that the demonetisation has been announced, the task of printing Rs 500 notes in large quantities has come before the Reserve Bank. The Reserve Bank had told that at present Rs 2000 notes equal to the value of Rs 3.62 lakh crore are in circulation in the market. To replace them, the Reserve Bank will have to print Rs 500 notes of this value. This is the reason that the Reserve Bank has to work day and night.

You can deposit in the account

Let us tell you that the Reserve Bank has not closed the 2000 rupee note Have done. The Central Bank says that these notes can still be used in transactions. However, the Reserve Bank has advised people to go to the bank to exchange 2000 rupee notes by 30 September 2023. A person can exchange 10 notes of 2000 rupees i.e. up to 20 thousand rupees at a time. The process of exchanging notes has started from May 22 in all bank branches. People can also get these notes deposited in their account. There is no maximum limit for depositing notes in a bank account.

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