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    ERDF Adopts Athlete Rajveer Singha

    ERDF Adopts Athlete Rajveer Singha

    MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

    MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

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    Prof GD Sharma in AIU-British Council Delegation to the UK

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    MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

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    State Tobacco Control Cell Receives Prestigious WHO Award

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    MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

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    Union Home Minister Amit Shah lays the foundation stone NFSU in Assam

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    MSL 2023: Rangdajied take back Group B top spot

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      ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

      ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

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      Raj Bhavan, Shillong celebrates 63rd Foundation Day of Gujarat and Maharashtra

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      Meghalaya :Nongstoin & Williamnagar get new FM Transmitters

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      Union Home Minister Amit Shah lays the foundation stone NFSU in Assam

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      HNLC hopeful about tripartite peace talks with the govt

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      Sarees worth 20 Lakh seized along Indo- Bangla border in East Khasi Hills

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      Union Minister of State for Home inaugurates Land Port Dawki

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      ERDF Adopts Athlete Rajveer Singha

      ERDF Adopts Athlete Rajveer Singha

      MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

      MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

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      MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

      MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

      MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

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      MSL 2023: Rangdajied take back Group B top spot

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      MSL 2023: 10-goal Lajong make a splash; Langsning trounce Umrit

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      ERDF Adopts Athlete Rajveer Singha

      ERDF Adopts Athlete Rajveer Singha

      MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

      MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

      High Court directs State govt. to ban display of animal carcasses in meat shops

      Prof  GD Sharma  in AIU-British Council Delegation to the UK

      Prof GD Sharma in AIU-British Council Delegation to the UK

      MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

      MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

      State Tobacco Control Cell Receives Prestigious WHO Award

      State Tobacco Control Cell Receives Prestigious WHO Award

      MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

      MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

      Union Home Minister  Amit Shah lays the foundation stone NFSU in Assam

      Union Home Minister Amit Shah lays the foundation stone NFSU in Assam

      MSL 2023: Rangdajied take back Group B top spot

      MSL 2023: Rangdajied take back Group B top spot

      Trending Tags

      • National
        ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

        ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

        Raj Bhavan, Shillong celebrates 63rd Foundation Day of Gujarat and Maharashtra

        Raj Bhavan, Shillong celebrates 63rd Foundation Day of Gujarat and Maharashtra

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        100th episode of PM’s ‘Mann Ki Baat’ to be screened at Raj Bhavan, Shillong on Sunday

        Meghalaya :Nongstoin & Williamnagar get new FM Transmitters

        Meghalaya :Nongstoin & Williamnagar get new FM Transmitters

        India surpasses China to become world’s most populous nation

        India surpasses China to become world’s most populous nation

        Air Marshal AP Singh takes over as  Vice Chief Of  Air Staff

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        National Voters’ Day to be celebrated on Wednesday

        Media Reports claiming ‘multiple side-effects of COVID19 vaccines’ are false

        Meghalaya Launches its First Drone Station for Delivery of healthcare items

        Meghalaya Launches its First Drone Station for Delivery of healthcare items

      • South Asia
        Union Home Minister  Amit Shah lays the foundation stone NFSU in Assam

        Union Home Minister Amit Shah lays the foundation stone NFSU in Assam

        HNLC hopeful about tripartite peace talks with the govt

        HNLC hopeful about tripartite peace talks with the govt

        Sarees  worth 20  Lakh seized  along Indo- Bangla border in East Khasi Hills

        Sarees worth 20 Lakh seized along Indo- Bangla border in East Khasi Hills

        2 Bangladeshi robbers nabbed along Indo – Bangla border in East Khasi Hills

        2 Bangladeshi robbers nabbed along Indo – Bangla border in East Khasi Hills

        Meghalaya Governor visits Land Port Office in Dawki

        Meghalaya Governor visits Land Port Office in Dawki

        BSF rescues  25 cattle along Indo -Bangla border in East Khasi Hills

        Truck driver transporting cattle shot dead by BSF, court of inquiry ordered

        13 Bangladeshis apprehended along Indo- Bangla border in East Khasi Hills

        13 Bangladeshis apprehended along Indo- Bangla border in East Khasi Hills

        BSF rescues  25 cattle along Indo -Bangla border in East Khasi Hills

        70 cattle rescued along Indo -Bangla border in West Jaintia Hills

        Union Minister of State for Home inaugurates Land Port Dawki

        Union Minister of State for Home inaugurates Land Port Dawki

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        ERDF Adopts Athlete Rajveer Singha

        ERDF Adopts Athlete Rajveer Singha

        MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

        MSL 2023: Lathadlaboh end group stage in defeat, Khliehmawlieh consolidate lead in Tura

        MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

        MSL 2023: Mawlai, Lajong, Mulait United dominate opposition

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        MSL 2023: Day of firsts sees Ladthadlaboh’s hopes dealt big blow by Pdengkarong

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        MSL 2023: Rangdajied take back Group B top spot

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        MSL 2023: 10-goal Lajong make a splash; Langsning trounce Umrit

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      ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

      The banknotes in ₹2000 denomination will continue to be legal tender. It may be noted that RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014

      sav_editor by sav_editor
      May 20, 2023
      in Business, Featured, Flash News, National
      0
      ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

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      New Delhi , May 19 : The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time. The objective of introducing ₹2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, printing of ₹2000 banknotes was stopped in 2018- 19.

      About 89% of the ₹2000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. The total value of these banknotes in circulation has declined from ₹6.73 lakh crore at its peak as on March 31, 2018 (37.3% of Notes in Circulation) to ₹3.62 lakh crore constituting only 10.8% of Notes in Circulation on March 31, 2023. It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.

      In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation.

      However ,the banknotes in ₹2000 denomination will continue to be legal tender. It may be noted that RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014.

      Accordingly, members of the public may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch. Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions.

      In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹2000 banknotes into banknotes of other denominations can be made upto a limit of ₹20,000/- at a time at any bank starting from May 23, 2023.

      To complete the exercise in a time-bound manner and to provide adequate time to the members of public, all banks shall provide deposit and/or exchange facility for ₹2000 banknotes until September 30, 2023. Separate guidelines have been issued to the banks.

      The facility for exchange of ₹2000 banknotes upto the limit of ₹20,000/- at a time shall also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments1 from May 23, 2023.

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      The Reserve Bank of India has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect.

      Members of the public are encouraged to utilise the time up to September 30, 2023 to deposit and/or exchange the ₹2000 banknotes. A document on Frequently Asked Questions (FAQs) in the matter has been hosted on the RBI website for information and convenience of the public.

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