Mon. Feb 26th, 2024 Online News, May 23rd, 2023: After the decision to withdraw Rs.2000 notes from circulation, RBI Governor Das has said that for the first time those who do not have a bank account and those who have Rs.2000 notes will have the same exchange process as everyone else. Das said that people who are rest assured that sufficient number of printed notes are available.

All the banks in the country and the 19 regional branches of the Reserve Bank of India will exchange two thousand rupee notes from today i.e. Tuesday. Reserve Bank Governor Shaktikanta Das said that there is four months for this.

Feel free to go to the bank and exchange notes. No need to be afraid. Banks have enough money. Shaktikanta Das said that there is no possibility of overcrowding in bank branches. There is no need to rush to exchange notes. He also asked people not to gather. Das made it clear that no organization, including businessmen, would refuse to accept the Rs 2,000 note.

After the decision to withdraw 2000 notes from circulation, RBI Governor Das said that for the first time those who do not have a bank account and those who have Rs.2000 notes will be subject to the process of exchange of notes like everyone else. Das said there is nothing to panic about, rest assured there are enough printed notes available. RBI and banks have enough money in their currency chests.

Economic activities will not be affected.

2000 note is not used in transactions. These notes constitute only 10.8% of the total currency in circulation. Therefore, withdrawing it will not affect the economic activities. Shaktikanta Das, Governor, Reserve Bank of India

What will happen next..we will decide only on September 30..

RBI Governor Das said that September 30 has been fixed as the deadline for exchanging notes. Otherwise the deposit or exchange process continues continuously. Das said that no one can answer what will happen after September 30. Many notes are expected to return at this time. The next decision will be taken on September 30 only.

Goal of Rs.2000 note fulfilled: Das said that the goal of bringing Rs.2000 note has been fulfilled. He said that their printing has been stopped from 2018-19.

Demonetisation has also taken place before: Under the clean note policy, RBI demonetises notes. In 2013-14 too, notes printed before 2005 were withdrawn. Arrangements for shade and water.. Keeping in view the hot winds, RBI has directed the banks to make complete arrangements for shade and water for the customers coming to exchange notes.

Will black money re-enter the system?

Das said there is a fixed procedure for depositing money in the account or exchanging cash. We have not come up with an additional process. Rs. For cash deposits above 50,000, PAN card must be presented. Talking about the Rs.1000 note issue, Das said that it is just speculation. It has been clarified that there is no such proposal at present.

There will be no situation in 2016, will it?

This time in 2016 there will be no law situation. Then 86% of the country’s currency was removed from circulation overnight. The RBI Governor said that the RBI will sensitively consider the problems of people who have gone abroad for a long period of time and are living abroad on work visa.

Notes can be deposited without ID proof and form filling.
SBI, the country’s largest bank, has said that customers can exchange Rs 2,000 notes from various branches of the bank without any ID proof or form filling. SBI said that notes up to Rs 20,000 can be exchanged without ID proof. In the past, it was advertised that in order to exchange Rs.2000 notes, one has to fill a form along with ID proof and Aadhaar card.