Rs 2000 Note To Vanish From Circulation!  

Going by the latest reports among financial institutions, Rs 2000 note is likely to vanish in the coming few months.Since the past couple of months, rumours were afloat that the RBI will halt the printing of the Rs 2000 note. - Rs 2000 Note To Vanish From Circulation!

It looks like those rumours have come true.A few days ago, Indian Bank released a press note that, their ATMs will not feature the Rs 2000 note from effective from March 1, 2020.

The bank cited that the customers were coming back to branches seeking change for Rs 2000 note, and hence the idea of self-withdrawing has been defeated, forcing them to take this decision.

This move from Indian Bank has put other bank into thought.

‘Many other banks will follow the route of Indian Bank, and will remove the Rs 2000 note from their ATMs phase-wise’, said a person aware of the matter.

Answering a question raised in the Rajya Sabha, Finance Minister of State Anurag Singh stated that there is no proposal of withdrawing Rs 2000 note from the circulation.

As of December 2, 2019, the value of Notes in Circulation (NIC) is Rs 22,35,648 Crores.

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