The withdrawal of Rs 2000 notes is creating panic. Some are rushing to buy luxury watches and gold; others are donating to temples and spending on mangoes and food delivery
The RBI on Friday announced the withdrawal of Rs 2,000 banknotes from circulation and set a deadline of September 30 for the public to exchange or deposit the banknotes.
The Secretary’s comment comes after the RBI announced that the maximum limit of exchanging is Rs 20,000 in one go. This means that a person can exchange 10 Rs 2,000 banknotes at one time.