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.
economy Where have all the ₹2000 notes gone?