The Rs 2,000 banknote was issued in November 2016 under section 24(1) of the RBI Act, 1934. In 2016, Rs 2,000 notes were introduced after the Rs 500 and Rs 1,000 notes were scrapped as legal tender.
The country’s Finance Ministry has released a special report on Monday regarding the 2000 rupee note. According to this report, the notes of Rs 2000 in circulation in the country have remained less than 25 percent. The time to deposit these rupees is still till 30th September.
By the way, in the month of August, there are going to be 14 bank holidays including different states of the country, but most of these are from the bank holiday state. Pan India holiday is very less. Even after that, those who have 2000 rupee notes in the country, without wasting time, the ministry is asking them to make deposits. Let us also tell you that what kind of report has been released by the ministry regarding Rs 2000 notes.
Finance Ministry released these figures
Releasing its report, the Finance Ministry said that about 77 per cent of the notes of Rs 2,000 value have been deposited in the banks. According to the Finance Ministry, the number of Rs 2,000 notes in circulation declined by volume to 418 million on June 30 from 1.77 billion on May 19. The ministry said that the value of these notes in circulation declined from Rs 3.56 trillion on May 19 to Rs 84,000 crore on June 30. People have time till September 30 to deposit the remaining money.
Will the deadline be extended?
Now the biggest question is whether the Finance Ministry will extend this deadline. So the government has already answered this question in the monsoon session. Minister of State for Finance Pankaj Chowdhary had made it clear in the Parliament that the government has kept September 30 as the deadline for depositing Rs 2000 notes.
Before that all people will have to deposit Rs 2000 notes. Its deadline will not be extended. So far no decision has been taken on this. In response to another question, he said that the government has no intention of demonetizing any other note right now.
RBI had announced in May
On May 19, the RBI decided to withdraw Rs 2,000 banknotes from circulation while retaining them as legal tender. On the other hand, the RBI advised banks to stop issuing such banknotes immediately and said that all Rs 2,000 notes should be replaced before September 30, 2023.
The Rs 2,000 banknote was issued in November 2016 under section 24(1) of the RBI Act, 1934. In 2016, Rs 2,000 notes were introduced to meet the currency requirements of the economy after the erstwhile Rs 500 and Rs 1,000 banknotes were scrapped as legal tender.
