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The Latest Breaking News from RBI

Letters to The Editor — May 25, 2023

Readers’ mail to The Hindu’s Letters to The Editor

The Hindu

The fundamental value of the rupee

By casting a shadow on the public’s perception of what is legal tender, the RBI is destabilising confidence in the rupee

The Hindu

PIL in Delhi HC challenges RBI decision to withdraw Rs 2000 denomination banknotes

A Public Interest Litigation (PIL) has been moved in Delhi High Court seeking direction to quash the Reserve Bank of India (RBI) Notification dated May 19, 2023, whereby the RBI has taken a decision to withdraw the Rs 2000 denomination banknotes from circulation under the clean note policy or otherwise.…

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Centre should first explain why ₹2,000 note was introduced: Digvijaya

The RBI issued the withdrawal of all ₹2,000 currency notes on May 19, and has given the public till September 30 to deposit or exchange all the notes at banks.

The Hindu

Exchange of ₹2,000 notes begins; business as usual at banks in Telangana

High net-worth individuals, those dealing in realty, businessmen, liquor outlets, petrol bunks, fertilizer shops, farmers with large land holding primarily were among those who opted to deposit, ostensibly because there was no limit on such remittances.

The Hindu

Do not turn away customers who pay using ₹2000 notes: Consortium of Indian Petroleum Dealers

The Consortium of Indian Petroleum Dealers (CIPD), a body representing over 60,000 fuel outlets across the country, has urged dealers not to turn away customers who pay using ₹2,000 notes and, instead, handle them on a case-by-case basis to avoid complaints

The Hindu

Telangana continues to depend on financial accommodation facilities provided by RBI to meet requirements

In view of poor revenue receipts the government had to avail the financing options of the RBI to fund its spree of welfare programmes through most of March in the last fiscal

The Hindu

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RBI defends before Delhi HC ₹2,000 banknote exchange exercise

The Reserve Bank of India (RBI) on Tuesday told the Delhi High Court that withdrawal of ₹2,000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience

The Hindu

₹2,000 notes reach banks amid hiccups

Small queues were witnessed at some bank branches on May 23, 2023 for the exchange of ₹2,000 notes against smaller denominations as part of the withdrawal exercise.

The Hindu

Rs 2000 Note Withdrawn: Exchange and deposit begin today at banks

However all bank notes in Rs 2,000 denomination will continue to be legal tender and be used for transactions, stated RBI. Read further on Dynamite News

Dynamite News

Morning Digest | No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das; wrestlers accept Brij Bhushan’s demand for a narco test under SC supervision, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

Slow withdrawal: on the RBI and the ₹2,000 note

The sudden decision by the Reserve Bank of India to withdraw the ₹2,000 notes in circulation has raised questions about the rationale

The Hindu

No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das

Seeking to allay concerns about the legal tender status of ₹2,000 currency notes after the September 30 deadline for their exchange or deposit, Reserve Bank of India Governor Shaktikanta Das stressed there is no need to rush to the banks and signalled the last date is only meant to nudge…

The Hindu

Don’t allow ₹2,000 banknote exchange without requisition slip, identity proof: PIL petition in Delhi HC

A PIL petition has been filed before the Delhi HC to not allow the exchange of ₹2,000 banknotes without requisition slip and identity proof.

The Hindu

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Dynamite News

Rs 2000-Note Withdrawal: "Do not rush to banks," as it will continue to be legal tender, says RBI governor

The Reserve Bank of India on Friday withdrew the Rs 2000 denomination banknotes from circulation but they will continue to remain as legal tender. Read further on Dynamite News:

Newslaundry

‘Like a filmstar who fades away’: Newspapers bid farewell to the Rs 2,000 note – and criticise the RBI

Less than seven years after they came into our lives, it’s time to bid farewell to India’s purple Rs 2,000 notes. That’s what the Reserve Bank of India announced last week.

The Hindu

Andhra Pradesh: YSRCP government steeped in corruption, alleges BJP State president Somu Veerraju

Withdrawal of the ₹2,000 denomination banknotes by the Reserve Bank of India is a bold step taken by Prime Minister Narendra Modi to unearth black money, says Somu Veerraju

The Hindu

SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes

The Reserve Bank of India has announced the withdrawal of ₹2,000 currency notes from circulation

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The Hindu

₹2,000 note withdrawal will have little impact on MSME and real estate sectors, say stakeholders

The industry is likely to take the decision by the RBI, to withdraw ₹2,000 notes from circulation, in its stride and its impact on the micro and small scale industries will be negligible, said K.N. Narasimha Murthy, president, KASSIA

The Hindu

‘RBI decision will not have impact on common man’

The Hindu

₹2,000 notes withdrawn: LPG agencies, petrol bunks to play safe after facing heat from I-T dept.

LPG agencies, petrol bunks to play safe after facing heat from I-T dept.

The Hindu

No major disruption expected in withdrawal of ₹2,000 currency notes

The Hindu

Andhra Pradesh: Minister ridicules Naidu’s claim that he is behind withdrawal of ₹2,000 denomination banknotes

The decision to withdraw the 2,000 denomination banknotes from circulation by the RBI has been taken at the highest level, and TDP supremo Chandrababu Naidu seems to be not in control of himself, says Gudivada Amarnath

The Hindu

Mamata calls decision of pulling out ₹2,000 notes from active circulation ‘whimsical’

Mamata Banerjee who was severely critical of demonetisation in November 2016 described the decision of the RBI as a “misadventures by an oligarchic & authoritarian government

The Hindu

Is 'second demonetisation' cover-up of wrong decision made earlier, asks Kharge

Opposition leaders on Saturday hit out at the government after the RBI announced the withdrawal of ₹2,000 currency notes from circulation, with Congress president Mallikarjun Kharge asking if the “second demonetisation” is an effort to cover up the wrong decision made earlier.

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