The Reserve Bank of India declared in May that 2000 notes would be withdrawn from circulation and deposited in banks until September 30. Will this deadline be extended? Parliamentarians asked the government this public query. The Finance Ministry has said that you must deposit Rs. 2000 bills in banks before September 30.
Many MPs, including NCP MP Supriya Sule, questioned the administration about 2000 notes in the monsoon session. Pankaj Chaudhary, Minister of State for Finance, addressed all queries.
Conversation on the 2000 currency notes
If the government plans to extend the deadline to exchange 2000 notes beyond September 2023, as has been speculated, then please provide the relevant information. Finance Minister of State Pankaj Chaudhary said, “At present there is no such idea.”
While this was going on, another lawmaker inquired as to whether or not the administration intended to devalue other large bills as well. The administration has said that there are no such plans in this regard.
Is there a plan to bring back the Rs 1,000 note or enhance the supply of smaller denomination notes?
According to the Minister of State for Finance, the Reserve Bank of India’s (RBI) decision to stop issuing the 2,000 rupee note was a precautionary measure taken to prevent an economic or public relations crisis. In addition, the government has a large enough supply of other denomination banknotes to accommodate the demand for exchanging or withdrawing 2000 notes.
