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Rs 2000 Note to be banned in June?
By: Tupaki Desk | 30 Nov 2016 6:38 AM GMT
General opinion among people is that Rs 2000 currency note is of no use and it will eventually lead to more Black Money. Even Union Government is well aware of this fact but had to introduce the higher denomination note only because it doesn't have sufficient lower denomination notes to compensate the defunct Rs 500 and Rs 1000 notes amounting to over Rs 14 lakh crore.
The printing capacity of presses under RBI control increased by 35 percent when compared to the past. If the buzz is to be believed, Centre will impose a ban on Rs 2000 note within few months. June 2017 is likely to be deadline for the implementation of it.
Within six months, Printing of enough Rs 100 and Rs 500 notes will be done. So that, replacing the Rs 2000 notes could be carried out in a smooth manner.
To encourage cashless transactions, Centre will be printing Rs 500 notes in limited quantity. In the way, Black Money could be curbed and Digital Economy could be a reality.
The printing capacity of presses under RBI control increased by 35 percent when compared to the past. If the buzz is to be believed, Centre will impose a ban on Rs 2000 note within few months. June 2017 is likely to be deadline for the implementation of it.
Within six months, Printing of enough Rs 100 and Rs 500 notes will be done. So that, replacing the Rs 2000 notes could be carried out in a smooth manner.
To encourage cashless transactions, Centre will be printing Rs 500 notes in limited quantity. In the way, Black Money could be curbed and Digital Economy could be a reality.
