No plan to withdraw ₹2000 notes : Arun Jaitley

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....
Kunwar Prithvi Singh Chauhan
Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.

Union finance minister Arun Jaitley on Friday ruled out rumors of discontinuing the new 2000 notes. The government and Reserve Bank of India had issued 2000 notes with the new notes of 500 after the demonetization announcement on 8th November 2016.

In a written reply to Lok Sabha today, Arun Jaitley stated that there was no proposal to withdraw the banknote of 2000 and that the ministry is currently targeting on enabling a cashless system around.

Giving information on the figures post demonetization, Jaitley stated that a total of 12.44 lakh crores were returned to RBI chest branches in the old currency denominations of 500 and 1000 till 10th December 2016.

Arun Jaitley also added that as of 3rd March 2017, the total amount of currency in circulation was 12 lakh crore. In his statement, he also said that the demonetization drive will further eliminate corruption, terror funding, black money and counterfeit currency and will result in a bigger and cleaner economy.

There were a few restrictions on the withdrawal from banks and ATMs post demonetization. The restrictions have largely been removed. Also, the banks have more cash deposited in account for now and that has resulted in lowered interest rates for loans.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

US stocks close mixed as Fed cuts interest rates

New York, Sep 19 (IANS) US equities ended mixed after the Federal Reserve cut interest rates for the second...

Madhya Pradesh seeks Rs 11,861 cr flood relief package

Bhopal, Sep 19 (IANS) The Madhya Pradesh government has sought a financial package of Rs 11,861 crore from the Central government for relief and...

US dollar rises after Fed cuts interest rates

New York, Sep 19 (IANS) The US dollar rose after the Federal Reserve cut interest rates by a quarter of a percentage point.In late...

Netanyahu cancels UN presence over inconclusive poll results

Tel Aviv, Sep 19 (IANS) Israeli Prime Minister Benjamin Netanyahu has cancelled his UN General Assembly appearance following the inconclusive election results. He was...

UN General Assembly to spotlight climate change: Guterres

United Nations, Sep 19 (IANS) The 74th session of the United Nations General Assembly (UNGA 74) will spotlight climate change in the coming days...
- Advertisement -

More Articles Like This