RBI on Friday announced that it has decided to withdraw the ₹2,000 denomination banknotes from circulation but they will continue to remain legal tender.
Congress leader Siddaramaiah on Friday slammed Bharatiya Janata Party (BJP) after the Reserve Bank of India on Friday notified to withdraw ₹2,000 denomination banknotes from circulation and termed it the party’s desperate attempt to divert the attention from its failures.
RBI on Friday announced that it has decided to withdraw the ₹2,000 denomination banknotes from circulation but they will continue to remain legal tender.
“Another note ban by @narendramodi. Sad that the @BJP4India govt does not have clarity about their own policies. Why did they introduce ₹2,000 notes in 2016 if they had plans to ban it? This is BJP’s desperate attempt to divert the attention from their failures. #NoteBan,” said Siddaramaiah in a tweet.
RBI has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect.
Meanwhile, RBI said that citizens will continue to be able to deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch up to September 30, 2023.
The ₹2000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time.
The objective of introducing ₹2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of ₹2000 b
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