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Friday, January 22, 2021

Old Rs 100 notes will not remain in circulation from March-April, RBI took this decision

 The banking company of India (RBI) Assistant top dog (AGM) Mahesh on Th same that the previous series of Rs one hundred, Rs 10, and Rs five currency notes is being planned to be bit by bit withdrawn by the run batted in. At constant time, the currency notes are out of circulation by March-April


He wise to concerning this throughout the meeting of the District Level Security Committee (DLSC) and also the District Level Currency Management Committee (DLMC) organized by the District depository financial institution in Netravati Hall of District punchayet.

Referring to the fiftieth day of the introduction of the ten rupee coin, he same most traders and businessmen were now not acceptive the ten rupee coin, that was inflicting issues for banks and also the run batted in and increasing the burden of coins in banks.

He conjointly questioned the disposal of Rs ten coins, to handle rumors that Rs ten coins are not any longer valid and any constructive thanks to raise awareness that coins aren't counterfeit however still valid.

The one hundred note are absolutely recovered by the top of March

The previous one hundred rupee note are absolutely recovered by the top of March. This note has been written for the last six years. However, the run batted in intends to recover the notes that were antecedently written. The previous notes within the currency are phased out and can be completed by the top of March.

The government won't stop printing 2000 notes

There are frequent discussions concerning the closure of the 2000 note. the govt. should create a press release during this regard. No demand letter was sent to the press to send Rs a pair of,000 notes within the monetary years 2019-20 and 2020-21, however that doesn't mean that the govt. is considering stopping the printing of Rs a pair of,000 notes.

More than twenty seven large integer notes in circulation

The Minister of State for Finance conjointly wise to that as on March thirty one, 2020, 27,398 currency notes of Rs a pair of,000 are circulated. As on March thirty one, 2019, the figure was thirty two,910 currency notes. He more same that the printing of notes was quickly halted thanks to the imposition of internment following the Kovid-19 epidemic. However, this machine has started operations in phases.

Imprinted note in internment

It may be mentioned that the printing of notes at the banking company of India Note Printing Pvt. Ltd. was stopped from twenty three March 2020 to three might 2020. Work on the positioning began before might four. The printing of notes has conjointly been stopped for a few time within the Security Printing and Minting Corporation of India restricted (SPMCIL). SPMCIL's Nashik and Dewas presses were closed throughout the internment.

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