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On July 4, the excess liquidity, as reflected by the amount of money absorbed by the Reserve Bank of India (RBI), stood at Rs 2.3 lakh crore- highest in one month. The central bank absorbed Rs 2.22 lakh crore of surplus liquidity on July 3, RBI data showed. ....
“It was a transitory kind of note to fill in the value which was lost in demonetisation," said Sudhakar Kaza, former managing director of Bharatiya Reserve Bank Note Mudran Private Ltd, the division of RBI which prints banknotes. ....
Currency with the public is arrived at after deducting cash with banks from total currency in circulation. Currency in circulation refers to cash or currency within a country that is physically used to conduct transactions. ....
As there are around 1.55 lakh bank branches in the country, each branch, on an average, will have to handle 11,677 pieces of Rs 2000 notes – or 116 notes per day between May 23 and September 30, 2023. ....
If the RBI itself will stop exchanging the Rs 2000 note, will it still be legal tender in practical terms from October 1st onwards? Can one still use it for buying goods and services? Can people refuse to accept it?