More than 97 pc of Rs 2,000 notes returned: RBI
Mumbai, Nov 1: The Reserve Bank on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system, and only Rs 10,000 crore worth of such notes are sill with public.
On May 19 this year, the RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation.
"The total value of Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023 when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 0.10 lakh crore as at the close of business on October 31, 2023," it said in a circular.
Thus, RBI added, more than 97 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, have since been returned.
Public can deposit and/or exchange the Rs 2,000 banknotes at the 19 RBI offices in the country.
"Members of the public are requested to avail the facility of sending the ?2000 banknotes through post offices of India Post. This will obviate the need for travel to RBI offices for deposit/exchange of the ?2000 banknotes," the central bank said.
Meanwhile, long queues are being witnessed during the working hours at the RBI offices for exchange/deposit of Rs 2,000 notes.
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Minister Patil chairs industry meetings to chart growth for key sectors in Karnataka
Bengaluru (PTI): Karnataka Minister M B Patil on Tuesday chaired meetings with industry representatives from the aerospace and defence, machine tools, auto/EV, and green energy sectors to discuss sector growth and government support measures.
The meetings were attended by leading industrialists and their representatives, with some participating virtually.
Speaking on the occasion, the minister for Large and Medium Industries said Karnataka is at the forefront of the country’s aerospace and defence sectors.
He noted that Suzuki and Toyota plan to launch aerial taxi services in Japan by 2028, with Bengaluru-based Sasmos supplying electrical equipment for the project.
Industrialists suggested introducing similar “fly-taxi” services in Karnataka through an appropriate policy, which Patil said would be examined seriously.
The minister highlighted the need to establish testing centres and Common Facility Centres for the aerospace and defence industries and assured that these facilities would be provided.
Suggestions were also made to prepare a comprehensive roadmap for sector growth.
Karnataka has urged the Central Government to approve Defence Corridor projects in the Bengaluru North–Kolar–Chikkaballapur and Dharawada–Vijayapura–Belagavi regions.
Industrialists also suggested a corridor between Bengaluru and Mysuru, Patil said.
He said Karnataka aims to become a hub for defence electronics manufacturing, with plans to establish a 200-acre Defence Electronics Park and a 100-acre Avionics and Sensor Park.
These projects will be implemented once the Special Investment Region is operational, and land availability will not be an issue.
On the machine tools sector, Patil said the industry has recorded an annual turnover of Rs 36,500 crore and is witnessing steady growth.
Large-scale exhibitions have increased demand, and the state must strengthen its capabilities to develop control systems for heavy machinery. One testing unit is already operational in Bengaluru, with another planned for Tumakuru. Expansion of vocational training institutes in industrial areas is also underway.
In the Auto and EV sector, Vision Group members highlighted the need for a network of dry ports and more EV charging stations across the state.
Patil noted that the Tata Group is manufacturing EV buses in Dharawada for nationwide supply. Plans for mini excavator production and export facilitation were also discussed, along with the establishment of a testing facility for two-wheeler EVs.
For the Green Energy sector, the group emphasised the need for a suitable policy on battery-based energy storage and the establishment of data centres.
Patil assured that the government will seriously consider all suggestions and respond positively.
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