Page 3 - Rs 2000 Note

Delhi HC rejects plea against RBI, SBI notice on exchange of Rs 2,000 notes

Petition says says exchange without a requisition slip and ID is arbitrary and irrational; RBI counsel says banking regulator's notification was a statutory exercise, not demonetisation

Sitharaman slams Chidambaram's comments on Rs 2,000 banknote withdrawal

Union Finance Minister Nirmala Sitharaman on Monday criticised Congress leader P Chidambaram over his comments on the withdrawal of Rs 2,000 currency note and said to cast aspersions on matters of this nature "does not augur well with the former finance minister". She was speaking to reporters here as a part of press conferences being held by Union ministers in different parts of the country on the completion of nine years of the Narendra Modi government. Chidambaram on Monday said the introduction of Rs 2,000 note and its subsequent withdrawal have cast doubt on the integrity and stability of the Indian currency. He also said the key economic indicators are pointing downward and there is low confidence that the economy will reach the high growth path. The Reserve Bank of India recently announced withdrawal of Rs 2000 notes from circulation and asked people to deposit it in banks or get it exchanged by September 30. Asked about Chidambaram's comments, Sitharaman said, To cast ...

Delhi HC to hear PIL against withdrawal of Rs 2,000 banknotes on May 29

The withdrawal of Rs 2000 denomination banknotes from circulation was a currency management exercise and a matter of economic policy, the RBI informed the Delhi High Court on Friday. The court, which was hearing a public interest litigation challenging the RBI's decision to withdraw the banknote from circulation, posted the matter for hearing on May 29. A bench headed by Chief Justice Satish Chandra Sharma was asked by the RBI to defer hearing on the plea in light of the fact that the verdict stands reserved by the court on another PIL concerning the withdrawal notification. List the matter on Monday. Give a small note also, the bench, which also comprised Justice Subramonium Prasad, told the parties. RBI counsel, senior advocate Parag P Tripathi, said the present petition by Rajneesh Bhaskar Gupta was misplaced as withdrawal of Rs 2000 denomination banknotes was a currency management exercise and not demonetisation, and a matter of economic policy. This issue of alleged ...

Punjab petrol pumps get 90% cash in Rs 2,000 notes after RBI's withdrawal

"We are afraid that we would again face problems as after demonetization in 2016 most dealers received harassment by tax authorities"

Day 2 of Rs 2,000 note exchange has banks running out of cash for exchange

Some banks had to temporarily halt exchanges of Rs 2,000 currency notes as they waited for supply of currency notes to be replenished

Don’t miss | Rs 2000 was not the highest denomination note in India

If you think 2000 rupee note was the highest denomination of Indian currency, time to get your facts checked! Watch the video to know more

Post offices barred from exchanging Rs 2,000 notes, can accept deposits

Exchange facility is available only at banks. Customers can make deposits since the Rs 2,000 note is legal tender," said a top banking industry source

Rs 2,000 notes withdrawn to divert attention from BJP's defeat: SP's Yadav

Samajwadi Party general secretary Ram Gopal Yadav on Tuesday alleged the move to withdraw Rs 2,000 currency notes from circulation has been taken to divert attention from the ruling BJP's defeat in the Karnataka assembly elections. Yadav was referring to the Reserve Bank of India's announcement last week to withdraw the Rs 2,000 currency notes from circulation. The RBI gave the public time till September 30 to either deposit such notes in accounts or exchange them at banks. Responding to queries on the move, Yadav said, "They (BJP) do not understand what should be done and what should not be done. They have become disoriented. This has been done because they lost badly in the Karnataka elections. This new trick is to divert the attention of the people." Dubbing the move as a "Tughlaqi farmaan (diktat)", the SP leader said, "During our student days, we studied in our history class that Muhammad bin Tughlaq first shifted his capital from Delhi to Daulatabad and then back to Delhi sayi

Start exchanging Rs 2,000 notes from today; how to do it and other details

The bank customers can also deposit the Rs 2,000 notes in their bank accounts and withdraw them from an ATM or bank branch later

Petrol sales: 90% via Rs 2,000 notes, 10% digital, say pump dealers

Pump dealers say customers using Rs 2K notes to make small purchases of Rs 100 & Rs 200 and asking for return in change

Economic impact of Rs 2,000 note withdrawal very marginal: RBI governor

Das said the central bank has more than adequate quantity of printed notes already available with RBI and the currency chests to meet any increased demand for lower denomination currency notes

72% of CoD bills paid in Rs 2K notes? Zomato tweet a 'marketing ruse'

In FY23, Zomato trimmed its losses to Rs 971 crore, from Rs 1,225.5 crore in the previous financial year

Cash sales at petrol pump spike to 90% as people rush to use Rs 2,000 notes

Cash purchase of fuel at petrol pumps using Rs 2,000 notes has spiked to almost 90 per cent of daily sales as buyers rushed to tender the withdrawn currency notes. Petrol pump dealers said cash sales before the surprise announcement on Friday of the withdrawal of the Rs 2,000 note was only 10 per cent, but now customers were using the withdrawn note to make small purchases of Rs 100/200, expecting petrol pumps to return change. They have now asked the Reserve Bank to instruct banks to provide enough small denomination notes to help serve customers smoothly. "Majority of the customers are trying to use Rs 2,000 notes even for small purchases of Rs 100-200 and are expected change from the petrol pumps and hence the petro outlets are extremely short of change across the country," All India Petroleum Dealers Association president Ajay Bansal said in a statement. It said the petrol pump dealers have been requesting customers to use the card or digital payment for fuel purchases. "Befor

Kolkata petrol pumps see 10 times hike in payments in Rs 2,000 notes

Petrol pumps in Kolkata claim that they have witnessed a 10-fold increase in payments using Rs 2,000 notes from people buying fuel since the RBI announced withdrawal of the high-value currency from circulation, officials said on Monday. In the case of jewellers, the increase in payment by Rs 2,000 notes is 15-20 per cent compared to the weeks before May 19 when the central bank made the announcement. "We are getting 10 times higher number of Rs 2,000 currency notes now since the announcement. We used to get 10-15 notes a day, but now it has risen to 130-140 on average," West Bengal Petroleum Dealers Association president Prasenjit Sen told PTI. However, India Bullion and Jewellers Association president (West Bengal) Ashok Begani said, "There is no panic buying as was witnessed in 2016 when currency notes of Rs 500 and Rs 1,000 denominations that were in circulation at that time were withdrawn overnight". The use of Rs 2,000 notes by customers has risen 15-20 per cent since the ...

Impact of Rs 2,000 notes withdrawal marginal on economy: Shaktikanta Das

Reserve Bank Governor Shaktikanta Das on Monday said the impact of withdrawal of Rs 2,000 currency notes will be "very very marginal" on the economy because it accounts for only 10.8 per cent of currency in circulation. Describing the withdrawal exercise as part of currency management operations of the Reserve Bank, he said, he expects most of the withdrawn Rs 2,000 notes to be returned to the exchequer by the deadline of September 30. Talking to reporters, Das said, "the impact of this on the economy will be very very marginal because it is only 10.8 per cent of currency in circulation. As you know that Rs 2,000 notes were not commonly used in any transaction We have found that it is hardly being used for carrying out transactions. Therefore, economic activity will not be impacted." As part of a clean note policy, he said, RBI has been conducting such exercise of withdrawal of currency notes from time to time and such exercise was undertaken in 2013-14, whereby the notes which we

Rs 2,000 note withdrawn: How important was the note for the Indian economy?

The Rs 2,000 note was introduced in 2016 after PM Modi announced demonetisation of Rs 500 and Rs 1,000 currency notes on November 8, 2016

How RBI's withdrawal of Rs 2,000 notes is different from demonetisation

In 2016, Rs 500 and Rs 1,000 notes made up over 86% of the money in circulation. This time around, Rs 2,000 notes make up a relatively small part of the total money in circulation

Rs 2,000 denomination note may lose legal tender status by year-end

No sign yet of Rs 1,000 note making a comeback

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

Rs 2,000 note: Hawala rate at Rs 91 for $; exchange for gold at Rs 70K

Hawala rate for the greenback surges to around Rs 91