Business Standard

Pink wads crawl out of woodwork amid the rush to dump Rs 2,000 notes

Surge in demand for gold, victuals, even as most sellers across the country decide not to argue with purchasers and accept Rs 2,000 notes

Money, Rs 2000, 200 notes, Rupees

BS Reporters Kolkata | Chennai | New Delhi | Bengaluru | Mumbai
Wads of Rs 2,000 notes have been rushing in at Posta Bazar, North Kolkata, one of the largest wholesale markets for perishable commodities in east India, since the Reserve Bank of India (RBI) announced its withdrawal from circulation on Friday.

In the half day that it was open on Saturday, retailers turned up with only pink notes. Niraj Agarwal of Shree Shiv Oil & Pulses, one of the bigger wholesalers in Posta Bazar, said. “Some even want to make early payments and settle the account but in Rs 2,000 notes.”

The cash transactions in Posta Bazar are large and the credit period

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 21 2023 | 6:49 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to