Where have all the ₹2000 notes gone?
- February 21, 2022
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Where have all the ₹2,000 notes gone?
TOPIC: Economy
Context- No fresh indent for printing of ₹2,000 notes was given to the RBI during FY20 and FY21, govt told Lok Sabha.
Concept-
- There is a disconnect between the number of ₹2,000 notes in circulation as per Reserve Bank of India data and their churn out in day-to- day transactions.
Impact of shortage of ₹2,000 notes:
- Customers are paying the price for the shortage of ₹2,000 notes.
- ATMs can dispense only 40 notes at one go, we can only withdraw ₹20,000.
- If there are ₹2,000 notes too in an ATM tray, it will be better for a customer in the wake of higher ATM use charges these days. So, banks are actually gaining due to this.