The Demonetisation happened in India in 2016 to renew the entire financial system of the country. Through demonetisation, Rs. 500 and Rs. 1000 notes were banned in the country. Ever since then the financial system in the country has gone through a complete makeover. Soon after the ban of Rs. 500 and Rs. 1000 currency notes, The printing of a new currency was instructed by RBI. New notes of Rs. 500 and Rs. 2000 were launched by RBI which left the entire nation in a state of shock.
The step was enforced by the government officials with a clear motto to destroy the ‘Black Money’. This step taken by the government in collaboration with RBI was one of the major steps to redefine the financial system of our country.
Will RBI withdraw Rs. 2000 Notes?
In July 2017 RBI announced that the printing of Rs. 2000 notes have been stopped and that the RBI is now focusing on the printing of Rs 200 new notes. After the initialization of this statement, it was believed that the issue of the new Rs. 200 currency will be the end for Rs. 2000 notes. The demonetization in the country earlier created very adverse conditions for the citizens and now that economy has gained a little stability Reserve Bank of India is now hinting towards the withdrawal of Rs. 2000 note.
Withdrawal of Rs 2000 Note: A good move or not?
The Rs 2000 note has been facing a number of challenges ever since its introduction by the RBI. Now, the matter is if the withdrawal of Rs. 2000 note will prove out to be good for the general public or not. If we concentrate on the matter deeply than we realize that the withdrawal of the Rs 2000 note will have a positive impact. First of all, the Rs. 2000 note is a high currency and it gets difficult to find change for the same. Even if enough low currency notes have been in circulation, still people find it difficult to collect change for the same even now. And if we talk about the other aspect than it is still easy to store for money hoarders. looking at these concerns we can say that it would be a good move if RBI withdraws the Rs. 2000 note.