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Currency Notes

All articles tagged with #currency notes

finance2 years ago

Assessing the Impact of India's Rs 2,000 Note Withdrawal

The RBI's decision to withdraw Rs 2,000 notes will likely be a "non-event" due to the rise of digital transactions in India, according to an SBI Research report. The report said that the decision will actually have a favourable bearing on liquidity, bank deposits and interest rates. The share of small denomination notes (upto Rs 100) in total has declined progressively to 9.0% from 26.7% in 2017 in value terms and to 58.8% from 90.8% in 2017 in volume terms. Meanwhile, UPI has emerged as the most popular and preferred payment mode in India accounting for about 73% of the total digital payments.

via Indiatimes.com|
#currency-notes#demonetisation#digital-transactions
politics2 years ago

India's Rs 2,000 notes face withdrawal and opposition criticism.

Opposition parties, including Congress, CPI, CPI(M), and AAP, criticized Prime Minister Narendra Modi over the RBI's announcement of withdrawing Rs 2,000 currency notes from circulation. Congress called it a "typical" move of Modi's "first act, second think" method and said demonetisation has come full circle. Left parties attacked the government over the issue, and the TMC questioned the BJP's "Modinomic masterstroke." The RBI announced that existing Rs 2,000 notes in circulation can either be deposited in bank accounts or exchanged by September 30.

via Deccan Herald|
#currency-notes#demonetisation#narendra-modi
politics2 years ago

India withdraws Rs 2000 notes from circulation, sparking controversy.

The Congress party criticized Prime Minister Narendra Modi over the RBI's announcement to withdraw Rs 2,000 currency notes from circulation, calling it a "second demonetisation disaster". Congress leaders slammed the move, with one MP saying it was the beginning of a second demonetisation disaster, while another said the "ghost of 8th Nov 2016 has come back to haunt the nation once again". The Rs 2,000 denomination bank note was introduced in November 2016 after the withdrawal of legal tender status of all Rs 500 and Rs 1,000 bank notes.

via Deccan Herald|
#congress#currency-notes#demonetisation