Noting that there is no reason for worry over the move to withdraw Rs 2000 notes, which continue as legal tender, Reserve Bank of India Governor Shaktikanta Das has said the central bank has "more than adequate" notes of other denominations available
The Reserve Bank of India on Friday decided to withdraw the Rs 2000 denomination banknotes from circulation but said they would continue to remain as legal tender
RBI on Friday announced that it has decided to withdraw the Rs 2,000 denomination banknotes from circulation but they will continue to remain legal tender.
RBI on Friday announced that it has decided to withdraw the Rs 2,000 denomination banknotes from circulation but they will continue to remain legal tender.
Reacting to the Reserve Bank of India's decision to withdraw Rs 2,000 currency notes from circulation, Vimal Nadar, the Head of Research at real estate firm Colliers India has called it a "timely" move aimed at "prudent currency management".
RBI on Friday announced that it has decided to withdraw the Rs 2,000 denomination banknotes from circulation but they will continue to remain legal tender.
The central bank believes that four-month time is enough for people to exchange notes with the banks. Most of the Rs 2,000 notes that are in circulation is expected to return to banks within the given time frame of 30th September.
The Reserve Bank of India has decided to withdraw the Rs 2000 denomination banknotes from circulation but they will continue to remain as legal tender.
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According to a statement from RBI, the pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The eRs-R would be in the form of a digital token that represents legal tender.
Centre told the SC that the nation underwent an important transformation through a series of economic policies and events and the withdrawal of the legal tender character was one important action in that series.
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