Many MPs had raised the query in regards to the standing of Rs 2,000 financial institution notes, the report mentioned quoting sources.
In line with official knowledge cited by PTI, as of July 1, Rs 2,000 denomination notes value Rs 6,099 crore are in circulation regardless of the RBI's announcement of their withdrawal over a 12 months in the past.
The RBI had initially declared the withdrawal of Rs 2,000 notes on Could 19, 2023, and has up to date usually on the quantity of circulation and worth of notes returned.
The Rs 2,000 notes have been initially launched in November 2016 following the demonetisation of Rs 500 and Rs 1,000 notes.
The general public can return Rs 2,000 notes by means of India Submit from any publish workplace within the nation to any RBI Problem Workplace and have the equal quantity credited to their checking account. By December 2024, the RBI reported that 98.08% of the Rs 2,000 notes in circulation had been returned. The entire worth of those notes had dropped from Rs 3.56 lakh crore on Could 19, 2023, to Rs 6,839 crore as of November 29, 2024.The general public might deposit or alternate Rs 2,000 notes at any financial institution department till October 7, 2023. Nevertheless, since October 9, 2023, the power has been restricted to 19 designated RBI Problem Workplaces throughout India.
These RBI workplaces are positioned in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
Discussions on counterfeit notes
An MP additionally raised the difficulty of counterfeit forex circulation. The member acknowledged that 1.12 lakh pretend notes o Rs 500 domination have been discovered or seized by the businesses, including that given over six crore notes are in circulation, this percentage-wise is kind of low.
The governor famous this and mentioned that the federal government and the RBI are totally dedicated to stopping such actions and are persistently taking measures to handle this difficulty.
Additional, a number of members additionally wished to know in regards to the standing of cryptocurrency in India, the sources added.
BJP MP Bhartruhari Mahtab, Chairman of the Parliamentary Standing Committee on Finance, mentioned after the assembly that it was a really significant dialogue in the present day with the Governor of the RBI.
“He gave us a variety of data associated to the financial state of affairs and the monetary system of our nation. Members additionally had questions, and I consider most of them have been fairly convincing,” the Chairman of Parliamentary Standing Committee on Finance mentioned.
“The subsequent assembly is more likely to be on the twenty third or twenty fourth of this month, with the RBI Governor, relating to the Insolvency and Chapter Code (IBC). The economic system is doing very effectively regardless of international headwinds, so that's the method through which he has defined,” he added.
