The Reserve Bank of India can withdraw the currency notes of 2000 rupees or stop printing of new notes in future. The country's largest public sector bank SBI has said this in a research report. In contrast to last year's report presented in the Lok Sabha, SBI Ecofelse said in its report that the Reserve Bank of India has issued a huge note of Rs 15,78,700 crore worth rupee notes by December 8, 2017, of which Rs 2,46,300 crore worth of notes were circulated in the market. Not so much. Based on this, SBI Group's Chief Economic Advisor, Soumya Kanti, has shown a probability in their report that the RBI can withdraw the currency notes of 2000 rupees. It has been said in the report that it is likely that instead of publishing a note of Rs.2463 billion worth of rupees worth rupees 2463 billion, the notes of 50 and 200 rupees can be placed on the market.
EcoFlash report says that the rupee notes of Rs 2,000 are facing trouble in the market. Due to the problem of the disbursed money, the RBI may have reduced its printing gradually or are preparing to withdraw these notes. After the ban, the Reserve Bank had fastened its printing so that the cash shortage could be removed. It also means that the government and the RBI want to keep only 35% of the total currency in circulation in the country.
The Reserve Bank of India can withdraw the currency notes of Rs. 2000
It is worth mentioning that Prime Minister Narendra Modi had announced to withdraw 500 rupees and 1,000 rupees notes on November 8 last year and after that it announced to put a new note of 2000 rupees in order to overcome the shortage. At that time, 86% to 87% of total currency circulating in the country had 500 and 1000 notes. Anil Bokill, who had given the idea of banning the 500 and 1000 notes of Prime Minister Modi, also suggested withdrawing 2000 notes. Many people, including Baba Ramdev, have demanded that the currency notes of 2000 be withdrawn.
