Friday, December 8, 2023

Rs 2000 note cannot be refused by any shop or business: Reserve Bank of India Chief


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Shillong, May 22: Shaktikanta Das, governor of the Reserve Bank of India, stated that the Rs 2,000 note remains legal money and that shops cannot refuse them.

According to Das, no one can refuse the Rs 2,000 notes as instructed by the central bank before. “We are withdrawing the Rs 2000 notes from circulation but they continue as legal tender,” Das added.

Customers shouldn’t panic, he continued, as there is still time to exchange these notes. By September 30, 2023, the RBI has requested that all Rs 2,000 notes be exchanged or deposited.

The country’s banks have been urged to make the appropriate preparations to allow the exchange of the Rs 2,000 notes that have been taken out of circulation, according to Das. He continued by saying that banks must take action to ensure a smooth procedure.

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