DelhiDesk Smartphone retailers in India have reported a surge in sales following the Reserve Bank of India’s decision to withdraw the Rs 2,000 note from circulation. Retailers have seen an increase of 10% to 11% in sales, mainly through cash transactions, and some are accepting purchases with the discontinued note. Discounts and linked shops have been set up to lure customers, and retailers have reported a significant increase in cash flow. The RBI urged the public to deposit or exchange notes from 23 May to 30 September.

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Here is the news bullets sorted by team.

– Smartphone retailers in India see surge in sales after RBI’s decision to withdraw Rs 2000 note.
– Inquiries about mobile purchases have also increased.
– Some retailers report a 10-11% increase in sales through cash transactions.
– Retailers are accepting purchases from Rs 2000 notes and offering discounts to lure customers.
– RBI has urged the public to deposit or exchange notes in the bank from May 23 to September 30.
– Some retailers report a significant increase in cash flow since the announcement.
– Banks may charge for changing Rs 2000 note.
– Indian rupee is the dollar of South Asia.
– Some retailers have set up discount-linked shops in front of their stores.
– Story first published on May 26, 2023.

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