Noteholders of the Rs. 500 and Rs. 2000: an update! Important information from the RBI regarding the 500 and 2000 rupee notes should be checked right away to avoid any issues
The country's notes are currently the subject of a variety of news stories, according to the Reserve Bank of India. If you have also kept the deposited notes in your home, the Finance Minister has revealed very significant information.
News about currency notes is constantly changing in the wake of the country's widespread demonetisation. If you have also kept the deposited notes in your home, the Finance Minister has revealed very significant information.
An announcement was made by the Finance Ministry. In the Parliament, the Ministry has once more been questioned about how much the cost of notes has increased since demonetisation. The government has also revealed a lot about the 500 and 2000 rupee notes in addition to this.
Ministry advised
According to the Ministry of Finance's response, the cost of currency notes has gone up since demonetization. the amount of e-rupee that has been circulated as of February 28, 2023.
RBI published the study.
In 2017, there were Rs 13,35,200 crore in banknotes and coins in circulation, according to the Reserve Bank of India's Annual Report (Bank Notes and Coins). In terms of a percentage of GDP, this is 8.7%. There was money in circulation in March 2018 of Rs 18 lakh 21 thousand 318 crore. In terms of a percentage of GDP, this is 10.7%. There were 21 lakh 36 thousand 746 crore dollars in circulation in March 2019.
The article is becoming popular on social media.
Let us inform you that a social media post announcing the expansion of the ability for foreign nationals to exchange old notes between $500 and $1,000 has gone viral recently. They started panicking as soon as they saw this post.
On November 8th, demonetization took occurred.
Let us remind you that on November 8, 2016, Prime Minister Narendra Modi said that the country would implement demonetization. Following this, the 500 and 1000 rupee notes were outlawed in the nation as of that day's midnight. After this, though, people were permitted to exchange banknotes.
