DelhiDesk: The Reserve Bank of India announced the withdrawal of the 2000 rupee note, causing some disturbance among the public. However, the RBI has allowed people to exchange the notes in banks until September 30, and there is no need to worry or rush. Demand for gold suddenly increased with the announcement, and people have been using the notes to buy household items such as air conditioners and refrigerators. There has also been an increase in the payment of 2000 notes at petrol pumps. No form or ID is required to exchange up to 10 notes, and the notes will remain legal tender until September 30. This ban is different from the 2016 demonetization because the 2000 notes will still be valid until the deadline.
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Here is the news bullets sorted by DelhiBreakings.com team.
👉 The Reserve Bank of India announced the withdrawal of Rs 2000 notes on May 19, 2000.
👉 People were initially distressed and thinking of ways to spend their 2000 notes.
👉 However, the RBI clarified that people can easily exchange Rs 2000 notes in banks from May 23 to September 30.
👉 The demand for gold suddenly increased after the announcement of the note being out of circulation.
👉 People started buying household items like gold, air conditioners and refrigerators to spend the notes quickly.
👉 The crowd increased at petrol pumps for exchanging 2000 notes.
👉 No form or identity card is required to replace a maximum of 10 Rs 2,000 notes.
👉 The Rs 2,000 notes will remain legal tender until September 30, while the Rs 500 and Rs 1,000 notes were invalidated overnight in November 2016 demonetisation.
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