{"id":4237,"date":"2023-10-20T13:40:29","date_gmt":"2023-10-20T13:40:29","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=4237"},"modified":"2023-10-20T13:40:29","modified_gmt":"2023-10-20T13:40:29","slug":"rs-2000-notes-worth-rs-10000-crore-left-in-system-rbi-governor","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/rs-2000-notes-worth-rs-10000-crore-left-in-system-rbi-governor\/","title":{"rendered":"Rs 2,000 Notes Worth Rs 10,000 Crore Left In System: RBI Governor"},"content":{"rendered":"

NEW DELHI, Oct 19: Governor\u00a0<\/span><\/span>of\u00a0<\/span>the\u00a0<\/span><\/span>Reserve\u00a0<\/span>Bank\u00a0<\/span><\/span>of\u00a0<\/span>India\u00a0<\/span><\/span><\/a>Shaktikanta\u00a0<\/span><\/span><\/a>Das<\/a>\u00a0<\/span><\/span>said\u00a0<\/span><\/span>on\u00a0<\/span><\/span>Friday\u00a0<\/span><\/span>that\u00a0<\/span>only\u00a0<\/span><\/span>Rs\u00a0<\/span>10,000\u00a0<\/span>crore\u00a0<\/span><\/span>worth\u00a0<\/span><\/span>of\u00a0<\/span><\/span>notes\u00a0<\/span><\/span>with\u00a0<\/span><\/span>a\u00a0<\/span>value\u00a0<\/span><\/span>of\u00a0<\/span><\/span>Rs\u00a0<\/span>2,000\u00a0<\/span><\/span><\/a>are\u00a0<\/span>still\u00a0<\/span><\/span>in\u00a0<\/span><\/span>circulation.<\/span><\/span><\/span> <\/span><\/span><\/span>He\u00a0<\/span><\/span>gave\u00a0<\/span><\/span>off\u00a0<\/span><\/span>the\u00a0<\/span>impression\u00a0<\/span><\/span>that\u00a0<\/span><\/span>these\u00a0<\/span>notes\u00a0<\/span><\/span>will\u00a0<\/span>also\u00a0<\/span>be\u00a0<\/span><\/span>put\u00a0<\/span><\/span>back\u00a0<\/span>or\u00a0<\/span><\/span>returned.<\/span><\/span><\/span> <\/span><\/span><\/span>There\u00a0<\/span>are\u00a0<\/span><\/span>barely\u00a0<\/span><\/span>10,000\u00a0<\/span>crore\u00a0<\/span><\/span>remaining\u00a0<\/span><\/span>in\u00a0<\/span><\/span>the\u00a0<\/span>system\u00a0<\/span><\/span>as\u00a0<\/span><\/span>Rs\u00a0<\/span>2,000\u00a0<\/span><\/span>notes\u00a0<\/span><\/span>start\u00a0<\/span>to\u00a0<\/span><\/span>return.<\/span><\/span><\/span> <\/span><\/span><\/span>He\u00a0<\/span><\/span>stated\u00a0<\/span><\/span>this\u00a0<\/span><\/span>on\u00a0<\/span><\/span>the\u00a0<\/span>fringes\u00a0<\/span><\/span>of\u00a0<\/span>the\u00a0<\/span><\/span>event:\u00a0<\/span><\/span>“It\u00a0<\/span><\/span>is\u00a0<\/span>anticipated\u00a0<\/span><\/span>that\u00a0<\/span><\/span>the\u00a0<\/span>sum\u00a0<\/span><\/span>will\u00a0<\/span>also\u00a0<\/span><\/span>return.<\/span><\/span><\/span> <\/span><\/span><\/span>Das\u00a0<\/span><\/span>had\u00a0<\/span>stated\u00a0<\/span><\/span>earlier\u00a0<\/span><\/span>in\u00a0<\/span><\/span>the\u00a0<\/span>month\u00a0<\/span><\/span>that\u00a0<\/span><\/span>87%\u00a0<\/span><\/span>of\u00a0<\/span>the\u00a0<\/span><\/span>Rs\u00a0<\/span>2,000\u00a0<\/span><\/span>denomination\u00a0<\/span><\/span>notes\u00a0<\/span><\/span>that\u00a0<\/span><\/span>were\u00a0<\/span>taken\u00a0<\/span><\/span>out\u00a0<\/span><\/span>have\u00a0<\/span>been\u00a0<\/span><\/span>refunded\u00a0<\/span><\/span>as\u00a0<\/span><\/span>bank\u00a0<\/span>deposits,\u00a0<\/span><\/span>with\u00a0<\/span><\/span>the\u00a0<\/span>remaining\u00a0<\/span>amount\u00a0<\/span><\/span>being\u00a0<\/span>exchanged\u00a0<\/span><\/span>between\u00a0<\/span><\/span>counters.<\/span><\/span><\/span><\/span><\/span><\/span>The\u00a0<\/span><\/span>Reserve\u00a0<\/span><\/span>Bank\u00a0<\/span><\/span><\/span>of\u00a0<\/span><\/span>India\u00a0<\/span><\/span><\/span>(RBI),\u00a0<\/span><\/span><\/span>which\u00a0<\/span><\/span><\/span>had\u00a0<\/span><\/span>introduced\u00a0<\/span><\/span><\/span>the\u00a0<\/span><\/span>Rs\u00a0<\/span><\/span><\/span>2,000\u00a0<\/span><\/span><\/span>note\u00a0<\/span><\/span><\/span>in\u00a0<\/span><\/span>2016\u00a0<\/span><\/span><\/span>as\u00a0<\/span><\/span>part\u00a0<\/span><\/span><\/span>of\u00a0<\/span><\/span>a\u00a0<\/span><\/span><\/span>swift\u00a0<\/span><\/span><\/span>remonetisation\u00a0<\/span><\/span><\/span>drive,\u00a0<\/span><\/span><\/span>surprised\u00a0<\/span><\/span><\/span>the\u00a0<\/span><\/span>financial\u00a0<\/span><\/span>community\u00a0<\/span><\/span><\/span>on\u00a0<\/span><\/span><\/span>May\u00a0<\/span><\/span>19\u00a0<\/span><\/span><\/span>when\u00a0<\/span><\/span>it\u00a0<\/span><\/span><\/span>announced\u00a0<\/span><\/span><\/span>its\u00a0<\/span><\/span>intention\u00a0<\/span><\/span><\/span>to\u00a0<\/span><\/span>phase\u00a0<\/span><\/span><\/span>it\u00a0<\/span><\/span><\/span>out.<\/span><\/span><\/span>This\u00a0<\/span><\/span>came\u00a0<\/span><\/span>after\u00a0<\/span><\/span>Prime\u00a0<\/span>Minister\u00a0<\/span>Narendra\u00a0<\/span>Modi\u00a0<\/span><\/span>said\u00a0<\/span>that\u00a0<\/span><\/span>the\u00a0<\/span>Rs.\u00a0<\/span>500\u00a0<\/span><\/span>and\u00a0<\/span><\/span>Rs.\u00a0<\/span>1,000\u00a0<\/span><\/span>notes\u00a0<\/span><\/span>would\u00a0<\/span><\/span>no\u00a0<\/span>longer\u00a0<\/span><\/span>be\u00a0<\/span><\/span>valid,\u00a0<\/span><\/span>taking\u00a0<\/span><\/span>out\u00a0<\/span><\/span>more\u00a0<\/span>than\u00a0<\/span>88%\u00a0<\/span><\/span>of\u00a0<\/span><\/span>the\u00a0<\/span>money\u00a0<\/span><\/span>in\u00a0<\/span><\/span>use.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>initial\u00a0<\/span>request\u00a0<\/span><\/span>was\u00a0<\/span>made\u00a0<\/span><\/span>to\u00a0<\/span><\/span>the\u00a0<\/span>public\u00a0<\/span><\/span>and\u00a0<\/span><\/span>entities\u00a0<\/span><\/span>holding\u00a0<\/span><\/span>these\u00a0<\/span>notes\u00a0<\/span><\/span>to\u00a0<\/span>exchange\u00a0<\/span><\/span>or\u00a0<\/span><\/span>deposit\u00a0<\/span><\/span>them\u00a0<\/span>in\u00a0<\/span><\/span>bank\u00a0<\/span>accounts\u00a0<\/span><\/span>by\u00a0<\/span><\/span>September\u00a0<\/span>30.<\/span><\/span><\/span> <\/span><\/span><\/span>Later,\u00a0<\/span><\/span>the\u00a0<\/span>deadline\u00a0<\/span><\/span>was\u00a0<\/span>moved\u00a0<\/span><\/span>to\u00a0<\/span><\/span>October\u00a0<\/span>7.<\/span><\/span><\/span> <\/span><\/span><\/span>Bank\u00a0<\/span>branches\u00a0<\/span><\/span>stopped\u00a0<\/span>offering\u00a0<\/span><\/span>exchange\u00a0<\/span><\/span>and\u00a0<\/span><\/span>deposit\u00a0<\/span>services\u00a0<\/span><\/span>on\u00a0<\/span><\/span>October\u00a0<\/span>7.<\/span><\/span><\/span> <\/span><\/span><\/span>At\u00a0<\/span><\/span>19\u00a0<\/span><\/span>Reserve\u00a0<\/span>Bank\u00a0<\/span><\/span>of\u00a0<\/span>India\u00a0<\/span><\/span>sites,\u00a0<\/span><\/span>people\u00a0<\/span>have\u00a0<\/span><\/span>the\u00a0<\/span>option\u00a0<\/span><\/span>of\u00a0<\/span>exchanging\u00a0<\/span><\/span>the\u00a0<\/span>currency\u00a0<\/span><\/span>or\u00a0<\/span><\/span>having\u00a0<\/span><\/span>the\u00a0<\/span>equivalent\u00a0<\/span>amount\u00a0<\/span><\/span>credited\u00a0<\/span><\/span>to\u00a0<\/span>their\u00a0<\/span><\/span>bank\u00a0<\/span>accounts\u00a0<\/span><\/span>as\u00a0<\/span>of\u00a0<\/span><\/span>October\u00a0<\/span>8.<\/span><\/span><\/span> <\/span><\/span><\/span>Up\u00a0<\/span><\/span>to\u00a0<\/span>a\u00a0<\/span><\/span>total\u00a0<\/span>of\u00a0<\/span><\/span>Rs\u00a0<\/span>20,000\u00a0<\/span><\/span>can\u00a0<\/span>be\u00a0<\/span><\/span>exchanged\u00a0<\/span><\/span>by\u00a0<\/span><\/span>individuals\u00a0<\/span>or\u00a0<\/span>organisations\u00a0<\/span><\/span>at\u00a0<\/span>any\u00a0<\/span><\/span>of\u00a0<\/span>the\u00a0<\/span><\/span>19\u00a0<\/span><\/span>RBI\u00a0<\/span><\/span>offices\u00a0<\/span><\/span>for\u00a0<\/span><\/span>Rs\u00a0<\/span>2,000\u00a0<\/span><\/span>in\u00a0<\/span><\/span>bank\u00a0<\/span>notes.<\/span><\/span><\/span> <\/span><\/span><\/span>Nonetheless,\u00a0<\/span><\/span>the\u00a0<\/span>total\u00a0<\/span>amount\u00a0<\/span><\/span>that\u00a0<\/span><\/span>can\u00a0<\/span>be\u00a0<\/span><\/span>credited\u00a0<\/span><\/span>to\u00a0<\/span>bank\u00a0<\/span><\/span>accounts\u00a0<\/span><\/span>in\u00a0<\/span><\/span>the\u00a0<\/span>form\u00a0<\/span><\/span>of\u00a0<\/span><\/span>Rs\u00a0<\/span>2,000\u00a0<\/span><\/span>notes\u00a0<\/span><\/span>is\u00a0<\/span><\/span>unlimited.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n

\"Rs
Rs 2,000 Notes Worth Rs 10,000 Crore Left In System: RBI Governor<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

NEW DELHI, Oct 19: Governor\u00a0of\u00a0the\u00a0Reserve\u00a0Bank\u00a0of\u00a0India\u00a0Shaktikanta\u00a0Das\u00a0said\u00a0on\u00a0Friday\u00a0that\u00a0only\u00a0Rs\u00a010,000\u00a0crore\u00a0worth\u00a0of\u00a0notes\u00a0with\u00a0a\u00a0value\u00a0of\u00a0Rs\u00a02,000\u00a0are\u00a0still\u00a0in\u00a0circulation. He\u00a0gave\u00a0off\u00a0the\u00a0impression\u00a0that\u00a0these\u00a0notes\u00a0will\u00a0also\u00a0be\u00a0put\u00a0back\u00a0or\u00a0returned. There\u00a0are\u00a0barely\u00a010,000\u00a0crore\u00a0remaining\u00a0in\u00a0the\u00a0system\u00a0as\u00a0Rs\u00a02,000\u00a0notes\u00a0start\u00a0to\u00a0return. He\u00a0stated\u00a0this\u00a0on\u00a0the\u00a0fringes\u00a0of\u00a0the\u00a0event:\u00a0“It\u00a0is\u00a0anticipated\u00a0that\u00a0the\u00a0sum\u00a0will\u00a0also\u00a0return. Das\u00a0had\u00a0stated\u00a0earlier\u00a0in\u00a0the\u00a0month\u00a0that\u00a087%\u00a0of\u00a0the\u00a0Rs\u00a02,000\u00a0denomination\u00a0notes\u00a0that\u00a0were\u00a0taken\u00a0out\u00a0have\u00a0been\u00a0refunded\u00a0as\u00a0bank\u00a0deposits,\u00a0with\u00a0the\u00a0remaining\u00a0amount\u00a0being\u00a0exchanged\u00a0between\u00a0counters.The\u00a0Reserve\u00a0Bank\u00a0of\u00a0India\u00a0(RBI),\u00a0which\u00a0had\u00a0introduced\u00a0the\u00a0Rs\u00a02,000\u00a0note\u00a0in\u00a02016\u00a0as\u00a0part\u00a0of\u00a0a\u00a0swift\u00a0remonetisation\u00a0drive,\u00a0surprised\u00a0the\u00a0financial\u00a0community\u00a0on\u00a0May\u00a019\u00a0when\u00a0it\u00a0announced\u00a0its\u00a0intention\u00a0to\u00a0phase\u00a0it\u00a0out.This\u00a0came\u00a0after\u00a0Prime\u00a0Minister\u00a0Narendra\u00a0Modi\u00a0said\u00a0that\u00a0the\u00a0Rs.\u00a0500\u00a0and\u00a0Rs.\u00a01,000\u00a0notes\u00a0would\u00a0no\u00a0longer\u00a0be\u00a0valid,\u00a0taking\u00a0out\u00a0more\u00a0than\u00a088%\u00a0of\u00a0the\u00a0money\u00a0in\u00a0use. The\u00a0initial\u00a0request\u00a0was\u00a0made\u00a0to\u00a0the\u00a0public\u00a0and\u00a0entities\u00a0holding\u00a0these\u00a0notes\u00a0to\u00a0exchange\u00a0or\u00a0deposit\u00a0them\u00a0in\u00a0bank\u00a0accounts\u00a0by\u00a0September\u00a030. Later,\u00a0the\u00a0deadline\u00a0was\u00a0moved\u00a0to\u00a0October\u00a07. Bank\u00a0branches\u00a0stopped\u00a0offering\u00a0exchange\u00a0and\u00a0deposit\u00a0services\u00a0on\u00a0October\u00a07. At\u00a019\u00a0Reserve\u00a0Bank\u00a0of\u00a0India\u00a0sites,\u00a0people\u00a0have\u00a0the\u00a0option\u00a0of\u00a0exchanging\u00a0the\u00a0currency\u00a0or\u00a0having\u00a0the\u00a0equivalent\u00a0amount\u00a0credited\u00a0to\u00a0their\u00a0bank\u00a0accounts\u00a0as\u00a0of\u00a0October\u00a08. Up\u00a0to\u00a0a\u00a0total\u00a0of\u00a0Rs\u00a020,000\u00a0can\u00a0be\u00a0exchanged\u00a0by\u00a0individuals\u00a0or\u00a0organisations\u00a0at\u00a0any\u00a0of\u00a0the\u00a019\u00a0RBI\u00a0offices\u00a0for\u00a0Rs\u00a02,000\u00a0in\u00a0bank\u00a0notes. Nonetheless,\u00a0the\u00a0total\u00a0amount\u00a0that\u00a0can\u00a0be\u00a0credited\u00a0to\u00a0bank\u00a0accounts\u00a0in\u00a0the\u00a0form\u00a0of\u00a0Rs\u00a02,000\u00a0notes\u00a0is\u00a0unlimited.    <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13,67,89],"tags":[],"class_list":["post-4237","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-header","category-national"],"gutentor_comment":0,"yoast_head":"\nRs 2,000 Notes Worth Rs 10,000 Cr Left In System: RBI Governor<\/title>\n<meta name=\"description\" content=\"Governor\u00a0of\u00a0the\u00a0Reserve\u00a0Bank\u00a0of\u00a0India\u00a0Shaktikanta\u00a0Das\u00a0said\u00a0on\u00a0Friday\u00a0that\u00a0only\u00a0Rs\u00a010,000\u00a0crore\u00a0worth\u00a0of\u00a0notes\u00a0with\u00a0a\u00a0value\u00a0of\u00a0Rs\u00a02,000\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jammubulletin.com\/site\/rs-2000-notes-worth-rs-10000-crore-left-in-system-rbi-governor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rs 2,000 Notes Worth Rs 10,000 Cr Left In System: RBI Governor\" \/>\n<meta property=\"og:description\" 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