Rs 2,000 notes worth Rs 10,000 crore left in system: RBI Governor
New Delhi (PTI): Reserve Bank Governor Shaktikanta Das on Friday said Rs 2,000 denomination notes are coming back and only Rs 10,000 crore worth of such notes are still with people.
He exuded confidence that these notes will also be returned or deposited back.
"Rs 2,000 notes are coming back and only Rs 10,000 crore is left in the system. The expectation is that the amount will also come back," he said on the sidelines of the event here.
Earlier this month, Das had said 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters.
On May 19, the Reserve Bank of India (RBI) took the financial world by surprise when it declared its plan to phase out the Rs 2,000 note, which had been introduced in 2016 as part of a rapid remonetisation effort.
This had followed Prime Minister Narendra Modi's announcement to withdraw more than 88 per cent of the currency in circulation by invalidating the Rs 500 and Rs 1,000 notes.
Public and entities holding such notes were initially asked to either exchange or deposit them in bank accounts by September 30. The last date was later extended to October 7.
On October 7, both deposit and exchange services at bank branches were discontinued.
Starting October 8, individuals were provided with the choice of either exchanging the currency or having the equivalent sum credited to their bank accounts at 19 Reserve Bank of India locations.
Individuals or entities can exchange Rs 2,000 bank notes at the 19 RBI offices up to a limit of Rs 20,000 at a time. However, there is no limit on the total amount for getting Rs 2,000 notes credited into bank accounts.
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Deve Gowda hints at NDA tie-up for local body, Panchayat polls
Bengaluru: JD(S) supremo and former Prime Minister H.D. Deve Gowda has indicated that the party is open to an understanding with the NDA in the upcoming local body, taluk and zilla panchayat elections.
Speaking to reporters at J.P. Bhavan on Wednesday, he said the JD(S) is a regional party, while the BJP is a national party. “We have to wait and see what decision they take regarding a pre-poll alliance. As far as local body elections are concerned, we will discuss the matter together before taking a decision,” he said.
Responding to Chief Minister Siddaramaiah’s allegation that the JD(S) does not give positions to anyone outside the family, Deve Gowda said the charge has no substance. “My memory is still strong. I will respond to everything at the appropriate time,” he remarked.
He also said that a JD(S) convention will be held in Vijayapura on February 27 and that he has been invited to participate in the event.
