Closure of 2000 Note: On November 8, 2016, the Modi government, the biggest strike on black money, made a ban on the nation, by which old notes of 1000 rupees and 500 rupees were discontinued and replaced with new notes in five hundred and two thousand rupees.
Plans by Government in preparation for closure of 2000 note
Closure of 2000 note – India Virals | www.indiavirals.com
But now the news is that the government wants to exclude two thousand rupees notes from the market. Although no statement has been received by the Reserve Bank of India and the Central Government in this regard, but according to media reports, the RBI is now preparing to increase the supply of small notes in the market.
R.B.I Now wants to increase the supply of 50, 100 and 500 rupees notes in the market. At the same time the news is that by the end of August, new notes of 200 rupees can also come in the market. Media reports claim that the increase in the number of small notes can start showing the way out of the market for Rs 2000 notes, for which State Bank of India has started recalibrating its ATM so that 500 rupees notes get more space.
Big notes being closed for these reasons
It is reported that the Central Government wants to increase the supply of small notes mainly for these two benefits. First of all, it will take a rein in the conspiracy of counterfeit currency. Second, the government wants people to pay more than online cash in place of cash.