Statement of RBI Governor Shashikant Das on change of 2000 notes; Important instructions given to banks.


Reserve Bank Governor Shaktikanta Das has released a statement regarding the replacement of Rs 2000 notes. He has said that there is no dearth of other notes in the market. There were many reasons for introducing the 2000 note. A time of four months has been given to exchange the notes. Banks will keep full details of 2000 notes. People should not fall into any kind of rumours. 2000 note has completed its life cycle.

The Reserve Bank of India (RBI) has directed all banks to maintain the data of Rs 2 thousand notes deposited daily. Instructions to this effect have been issued by RBI on May 2000. Reserve Bank of India Governor Shaktikanta Das has said that the facility of exchanging Rs 2000 notes over the counter will be generally provided to the general public, as was being provided earlier. A time of four months will be given to exchange the notes. Das said the decision to scrap the Rs 2,000 notes was taken as part of the “clean note” policy. The RBI Governor has said that all preparations have been made to replace the two thousand rupee note. From May 23, the limit for exchanging 2000 rupees notes to other denominations at any one time in any bank will be up to 20000 rupees. “We are constantly monitoring the difficulties faced in exchange of notes.

RBI Governor said – 2000 rupees currency has decreased

The RBI Governor said that the decision to print Rs 2000 notes was taken to meet the currency shortage during the demonetisation of Rs 500 and Rs 1000 notes. Now this purpose is fulfilled. Today notes of other denominations are in sufficient circulation. The circulation of Rs 2000 notes, too, has come down to around Rs 3 lakh 62 thousand crore from a peak of Rs 6 lakh 73 thousand crore. Printing has also been stopped. 2000 notes have completed their life cycle.

Shaktikanta Das said, ‘I clarify and reiterate that this is part of the Reserve Bank’s currency management function. For a long time, the Reserve Bank has been adopting the Killan Note policy. From time to time RBI withdraws certain series of notes and issues new notes. We have taken from the currency Rs. 2000 notes are being withdrawn but they continue to be legal tender.































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