TODAY -

RBI announces withdrawal of Rs 2,000 notes from circulation
Currency can be exchanged till Sept 30, 2023

Source: Nirendra Dev *

New Delhi, May 19 2023: To many it came as a shock, for most common people it did not matter much as the circulation of Rs 2000 notes had declined substantially.

The Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes that were introduced in 2016 after the demonetisation policy from circulation.

However, the central bank gave public time till September 30, 2023 to either deposit such notes in accounts or exchange them at banks.

Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were banned outright overnight, the Rs 2,000 notes will continue to be a legal tender till September 30 .

Former Finance Minister and Congress leader P Chidambaram says the demontisation or note ban issue has come full circle.

He described today's decision on Rs 2000 notes as --- "as expected" .

RBI expects that 4 month time is enough for people to exchange notes with the banks.

Most of the Rs 2000 notes that are in circulation will return to banks within the given time frame of 30th September.

"This is a routine exercise of the RBI and people need not panic," sources said.

From the opposition camp, Delhi Chief Minister Arvind Kejriwal went 'personal' against Prime Minister Narendra Modi and said, "ek anpad pradhan mantri ko koi bhi kuchh bol sakta hae (Any one finds its easy to mislead an uneducated Prime Minister)".

He said that this is the reason why he says that the PM should be educated.

The fact of the matter is different and many like 'educated' intellectuals and leaders like Kejriwal may not bother much.

The central bank (RBI) has noted lately that the Rs 2000 denomination note is no longer commonly used for transactions, as its circulation has come down from Rs 26.73 lakh crore in March 2018 to a modest Rs 3.62 lakh crore in March 2023 .

On 19 May, the Reserve Bank of India announced that it is withdrawing the circulation of Rs 2000 currency notes.

RBI informed that it had stopped printing the high value notes in 2018-19, most of the notes have reached their end of life.

In fact, the official explanation is the notes are being withdrawn in pursuance of the "Clean Note Policy" .

The RBI has said that people can exchange the Rs 2000 notes they may be having at banks from 23 May to 30 September.

Only Rs 20,000 can be exchanged at a time, which means taking notes in other denominations by depositing Rs 2000 notes.

There may be no limit on depositing the Rs 2000 notes in bank accounts.

In 2018, Rs 2000 notes formed 38 percent of the total cash chest and in 2023, it is only 10.8 percent.

It is evident that the notes were taken out of circulation in a gradual manner and therefore, the current move was in play for a long time.

The moot point is the idea was to minimise the trouble caused to the common public.

In 2020 itself, reports started to appear in the media about the disappearing Rs 2000 notes and ATMs were mostly dispensing only Rs 500 notes.

One politician in the opposition camp summed up the spirit of the common man on the issue saying, "No problem I don't have much of that denomination ..

maybe not even a single note...

so no issue" .

P Chidambaram tweeted to say, "As expected, the government/RBI have withdrawn the Rs 2000 note and given time until September 30 to exchange the notes.

The Rs 2000 note is hardly a popular medium of exchange.

We said this in November 2016 and we have been proved correct.

The Rs 2000 note was a band-aid to cover up the foolish decision of demonetising Rs 500 and Rs 1000 notes which were popular and widely exchanged currencies I shall not be surprised if the government/RBI re-introduced the Rs 1000 note as well.

Demonetisation has come full circle!" .

* The sender of this news can be contacted at nirendev1(AT)gmail(DOT)com .


* Comments posted by users in this discussion thread and other parts of this site are opinions of the individuals posting them (whose user ID is displayed alongside) and not the views of e-pao.net. We strongly recommend that users exercise responsibility, sensitivity and caution over language while writing your opinions which will be seen and read by other users. Please read a complete Guideline on using comments on this website.




HEADLINES - 20, MAY 2023
  • AICC demands peace efforts on war footing
  • Meghen cites lessons to learn from conflict
  • Many meet Governor with peace call
  • Turmoil will linger as long as SoO remains in force: Khwairamband Keithel vendors
  • Temple vandalised, villagers terrified
  • Abducted, freed
  • Houses burnt
  • Missing men : JAC announces reward
  • Visit and see ground reality : Kanglamei
  • DGP rebuts claim
  • Take back separate administration call : Joykisan to 10 MLAs
  • Scribes roll back stand
  • Uripok AC MLA writes to Amit Shah
  • Kangpokpi: BJP Govt debars Cong team from visiting displaced people
  • Violence orchestrated, says COPIM
  • CM assured secuirty posts along NH-37 : TDC
  • Meitei Leepun shares their version on conflict
  • JAC demands safe release
  • AOL steps in to provide relief & solace to camp inmates
  • Sit-in demands abrogation of SoO pact with Kuki militant groups
  • MPNF condemns burning, looting of Core Composite Project offices
  • Mega Manipur Society informs
  • Many continue to extend relief materials
  • Essential items donated to relief camps
  • Dua ceremony held for peace, sanity
  • Atrocities of SoO militants deliberated
  • Cong questions silence of central leaders, PM
  • Govt accused of debarring Cong team to meet victims
  • Joykisan prods conscience of Kuki MLAs
  • MLA RK Imo raises posers
  • DGP refutes claim of 10 Kuki MLAs
  • Bodies blame ATSUM rally in Ccpur for riots
  • Abandoned Meitei houses torched in Dolaithabi area
  • Time-bound probe by SC must: Heijiang Misao
  • So0 reason for present crisis: COCOMI
  • AMWJU, EGM suspends media shutdown call
  • CM assured permanent SF post on NH-37: H Ranjit
  • Manipur crisis matter of national security: Meitei Leepun
  • Separate administration untenable: MLA
  • Ex-Speaker meets Shah, presses for restoring peace
  • AR aids displaced citizens, provides medicines
  • Ex-MLA RK Anand regrets Manipur situation
  • Body dismisses ST demand-riot connection
  • AoL to offer trauma relief service to riot victims
  • No fees for affected students: MM School
  • ICHAM calls for shedding differences
  • JAC announces reward for info on missing persons
  • Donation to CMRF, camps continues
  • Muslim villagers rescue abducted Meitei man
  • LATEST IN E-PAO.NET
  • National Science Teacher workshop
  • Violence in Manipur 2023-2024 : Timeline
  • Livelihood Disaster in Mapithel Region
  • Condemns Killing of CRPF Personnel
  • "ST status for Meetei" at Manipur College
  • Huidrom Oliviya: Silver @Cadet Europian Cup
  • Election: Runner-up may spoil the joy
  • Scientists of Manipur : Laishram Ladu Singh
  • Imphal Ring Road Project to Transform
  • Crop/animal for higher productivity in NE #2
  • The Power of Poppy - 28 :: Poem
  • Condemned unabated illegal taxation
  • Watermelon : Super nutritious summer fruit
  • People have spoken, Manipur has voted
  • Skirting around core issues
  • Lok Sabha polls in Manipur #2 : Gallery
  • The Taj Mahal that bans Lovers !
  • Importance of bees !
  • Massive hailstorm in Jiribam
  • The messiah of hapless children
  • Attack on fuel tankers & blasting bridge
  • Blame it on Meetei
  • The Happiness Code : Download
  • NH-2 Bridge bombed @Sapermeina : Gallery
  • Crop/animal for higher productivity in NE #1
  • Training Programme under SPARK concluded
  • Why environment control is so difficult
  • 4th Foundation Day- Young Minds Collective
  • All set for second phase poll
  • The Nongsaba phenomenon
  • Khongjom Day @Khebaching #1 : Gallery
  • India's responsibility to end Manipur violence
  • Migrant worker could access TB services only
  • Importance of reading magazines as student
  • SHG pioneering agricultural innovation
  • Nearing the one year mark
  • The enemy within
  • Id-ul-Fitr @Hatta #2 : Gallery
  • Workshop @ NSU Manipur : Gallery
  • 15th Manipur State Film Awards 2023
  • "ST status for Meetei" at Panthoibi Shanglen
  • GSDP doubles, health shines
  • Vote has been cast, repoll held
  • Two faces of democracy
  • Laurels for Scientist Ngangkham Nimai
  • Crime against women in Manipur
  • "ST status for Meetei" at Sugnu
  • Creativity & innovation for vibrant career
  • 4th Foundation Day of YMC
  • Racing towards one year mark
  • Prophetic words, indeed
  • Nupi Landa Thaunaphabishing #14 :: Book
  • 174th Anniv Maharaj Narasingh #1 : Gallery
  • Ensuring Fair Voting in Hills of Manipur
  • Dr Irengbam Mohendra's latest book :: Rvw
  • NDA has the advantage in both
  • Lok Sabha polls in Manipur #1 : Gallery
  • L Rup's Robot 'Kangleinganbi' in Manipuri
  • Art- means of connecting hearts in Manipur
  • Is it Living Alive or Living Death ? :: Poem
  • Rabies - A preventable zoonotic disease
  • April 19, 2024: The blackest day of all
  • Ugly turns on voting day
  • Children Camp @JNMDA Imphal #2 : Gallery
  • The chasm between TB & HIV continues
  • Parliament and its Members
  • Kimchi for health and glowing skin
  • LS election with a difference
  • To vote, or not to vote ?
  • Sajibu Cheiraoba Chak Katpa #2 : Gallery
  • "ST status for Meetei" at Lamjao, Kakching
  • The Power of Poppy - 27 :: Poem
  • Mother Language based education essential
  • Modi's warriors wear regional hats
  • Nest Asia promoting Northeastern Cuisine
  • Now look beyond LS poll
  • The rot in the system
  • Scientists of Manipur : Laitonjam Warjeet
  • Community seed bank @Umathel : Gallery
  • 10 candidates cracked Civil Services Exam
  • Milk of Paradise: History of Opium : Rvw
  • How plastics find their way into our bodies
  • Condemning attack on Trucks along NH-37
  • Cong looking to buck the trend
  • Saving Manipur
  • Sajibu Cheiraoba: 1 occasion, 2 narratives #2
  • Election Duty :: Travellog
  • 1st Nagas' Meet in Punjab
  • How to select right MP to represent Manipur
  • "ST status for Meetei" at Tejpur
  • Bats are Keystone species for the Planet
  • The '15 days' conundrum
  • Free but not so fair
  • Descent of Radha-Krishna #30: Download
  • Before You Vote : My Rumbling Thoughts
  • "ST status for Meetei" at Kakching
  • Meiraba wins All India Sr tournament
  • Finding light in dark through my daughter
  • Navigating life's unreasonable expectations
  • Test of people's character
  • BJP's election manifesto
  • Athoubasingi Numit #1 : Gallery
  • Black rice & Glycemic Index
  • What Nadda should speak at Dimapur rally
  • Open Letter to CM Office Manipur
  • Meghalaya unveils Strawberry festival
  • Benefits of maths newspapers for students
  • Id-ul-Fitr @Hatta #1 : Gallery
  • Are you a good person ?
  • Physics Academy of NE : Executive Body
  • "ST status for Meetei" at Moirang
  • Cherrapunji Eastern Craft Gin launched
  • Cong on cautious path
  • Botox for Hair
  • Posers voters should raise now
  • The lull before the storm
  • 80th Anniv- Battle of Kanglatongbi @UK
  • Vir Chakra Ngangom Joydutta's bust unveiled
  • Hun - Thadou Cultural Festival : Gallery
  • "ST status for Meetei" at Singjamei
  • Election Eclipses: Ballad of Battle & Loss
  • Our voices are equal at the ballot box
  • Scientists of Manipur : Ngangkham Nimai
  • Urgent Call for Solidarity in Manipur
  • Meitei Nongsha #2 :: An Artwork
  • "ST status for Meetei" at Waikhong
  • About NPF-BJP-NPP alliance & why ?
  • World Veterinary Day, 2024
  • The heavy stake behind the LS polls
  • The politics of lying & deception
  • Sajibu Cheiraoba Chak Katpa #1 : Gallery
  • Hun-Thadou Cultural Fest @ Delhi: Report
  • Appeal to Parties & Candidates
  • "ST status for Meetei" at Wangoo
  • Establishment of community seed bank
  • Awareness Programme on new Criminal Laws
  • Make a right choice at the Lok Sabha election
  • Sajibu Cheiraoba: 1 occasion, 2 narratives #1
  • RIST talk-58 : Support systems of elderly
  • "ST status for Meetei" at Hiyanglam
  • Vote, do not boycott !
  • Lok Sabha election: A new dawn in politics ?
  • IIT-Guwahati Half Marathon report
  • Taking ST demand to the election ring
  • Lesson to be learnt from across border
  • Mirabai: Poised for Paris Olympics
  • Legal position for protection of environment
  • "ST status for Meetei" at Keisamthong
  • Heterocyclic compound & biochemical science
  • Inner, torn between two lovers
  • Certification Music Therapy Workshop
  • NOTA as a choice
  • Caesar's wife must be above suspicion
  • Descent of Radha-Krishna #29: Download
  • World Health Day 2024
  • "ST status for Meetei" at Pangantabi
  • The Power of Poppy - 26 :: Poem
  • Fulbright Fellowship Outreach at Arunachal
  • Id-ul Fitr da namaz nattana..
  • Nupi Landa Thaunaphabishing #13 :: Book
  • Lok Sabha election is coming, be prepared
  • 6th Hun-Thadou Cultural Festival
  • Let There Be Free & Fair Election
  • "ST status for Meetei" at Lamlong
  • Science magazines are important for student
  • Interesting choice of candidates
  • The power of We, the voters
  • Inspirations from Scientists of Manipur #1
  • The Case for Amendment of Article 371-C
  • Meitei Nongsha #1 :: Artwork
  • Link between forest & conflict in Manipur
  • Final Call for Application MFA - Phase-2
  • ST for Meiteis call before elections
  • Passing the buck
  • Beating of the Retreat #1 : Gallery
  • Life of our Lives in Ethnic Strife Era! :: Poem
  • IIT-Guwahati annual Half Marathon
  • Follow up: European Parliament on Manipur
  • Yoga & Kegel exercise: Pelvic floor workout
  • Opting for the NOTA button
  • Yearning of the displaced people
  • Kenedy Khuman (Singer) : Gallery
  • 5th NE Women's Peace Congregation
  • World Autism Awareness Day 2024
  • Election fever grips Manipur despite unrest
  • Looking for a decent election hustings
  • Clock ticking towards voting day
  • An exemplary directive
  • Children Camp @JNMDA Imphal #1 : Gallery
  • Memo to Election Commission of India
  • Easter & Holi echo in Nilgiris
  • Holiday Camp for children at JNMDA, Imphal
  • Zero waste is our moral responsibility
  • Elections & loyalty vis-a-vis Manipur crisis
  • Show of strength without unity
  • Yaoshang Pichakari #2 : Gallery
  • Panthoi Chanu : 1st to play in Australia
  • Intensive labs in film preservation
  • Building bridges with books
  • Need of the hour: Political maturity
  • Accepting defeat before the election
  • Descent of Radha-Krishna #28: Download
  • April Calendar for Year 2024 : Tools
  • Natural packaging from bamboo : Gallery
  • The Power of Poppy - 25 :: Poem
  • Everyone has their own Bharat Ratna
  • Nupi Landa Thaunaphabishing #12 :: Book
  • Demand- Manipuri as classical language
  • The Drummer from Odisha
  • Beauty benefits of lemon
  • Yaoshang Mei Thaba #2 : Gallery
  • Manipur's original Ponies : Gallery
  • Yaoshang & Dance of Democracy loom
  • Symposium on Jagadguru Shankaracharya
  • Choosing ITI as a campus after X
  • Yaoshang Pichakari #1 : Gallery
  • Yaoshang @Nabadwip Dham : Gallery
  • How oral health affects your pregnancy
  • Two faces of Holi
  • Prawaas 4.0, Multimodal Transport Show
  • A decade of development of higher education
  • Yaoshang Mei Thaba #1 : Gallery
  • Our Eternal Kangleipak :: Poem
  • Micro-livestock for livelihoods: For NE States
  • The fun of Holi used to be monotonous
  • 2nd Annual Art Exhibition #1 : Gallery
  • About the "Meitei" community from Manipur
  • Unveiling the medicinal benefits of honey
  • The incalculable value of wildlife
  • Promises of true love
  • Trends, Alliances, & Challenges in Elections
  • Meitei Goddess Ngaleima : An Artwork
  • Lamta Thangja @ Imphal : Gallery
  • Meira Paibis of Manipur
  • North East Film Festival #2 : Gallery
  • Students @ Class X Exam : Gallery
  • Saroi Khangba @ Kangla : Gallery
  • Protest for scrapping SoO #2 :Gallery
  • Shopping List for Shivaratri : Gallery
  • N Tombi Equestrian C'ships #1 : Gallery
  • Featured Front Page Photo 2024 #1: Gallery
  • Radio E-pao: Manipuri Film OST (130+ song)
  • Save Manipur : Protest [Feb 15] #3 : Gallery
  • Naorem Roshibina- Wushu Medallist : Gallery
  • GHOST of PEACE :: Download Booklet
  • List of Kings of Manipur: 33 - 1984 AD