reserve Bank of India: It has been almost a month since Rs 2000 note was considered illegal in India. The Reserve Bank of India (RBI) had announced the closure of the country’s largest note of Rs 2,000 a few months ago. But since a large portion of these notes in circulation were then in the hands of many common people, they were given months to deposit those notes in the bank and receive cash of equivalent value. But that deadline expired on September 30, 2023. Although many Rs 2000 notes are still available in the market, there is no doubt that they have now become worthless.
The first Rs 2,000 note was issued in the Indian market in 2016. On 8 November 2016, the Prime Minister had announced demonetization across the country. Then the Reserve Bank of India withdrew 1000 and 500 rupee notes from the market. Then from November 10, 2016, the Reserve Bank of India released new notes of Rs 2000 in the market. But this note comes in the market with new shape and new design. Till a few months ago, the biggest note in the market was Rs 2000 note.
However, a news has been going viral on social media for a long time. Many people have shared this news on social media. It is being said in this news that Reserve Bank of India is going to bring 1000 rupee notes back in the market. According to reports, the Reserve Bank may soon make a big announcement in this regard. But what will this new note of Rs 1000 be like? Will the Reserve Bank bring this note in the market in a new form? The Reserve Bank of India has made its position clear on this matter.
Recently, the Reserve Bank of India said in an announcement that at present there is no plan to bring the Rs 1000 note back into the market. Giving the reason for this, the Government of India said that Rs 500 notes are available in the market to meet the current cash needs of the country’s economy. On the other hand, the trend of digital transactions is also increasing rapidly in the country. Hence the need for cash will be less and that is why the Reserve Bank is reluctant to introduce big currencies in the market.