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[31] [32] RBI said that 2,000 bank notes continue to be legal tender. [33] On 1 April 2024, Reserve Bank of India informed that 97.69% of Rs 2,000 notes have been returned to the banking system, however Rs 2,000 notes worth Rs 8,202 crore are still in circulation with public, at the close of business on 29 March 2024. [34] [35]
[45] [46] [47] The exchange of banknotes was stopped completely on 25 November, although the government had previously stated that the volume of exchange would be increased after that date. [48] International airports also facilitated an exchange of banknotes for foreign tourists and out-bound travellers, amounting to a total value of ₹5,000 ...
The first banknotes issued in the New Series were the denominations of ₹ 500 and ₹ 2000, and are in circulation since 10 November 2016. While the ₹ 500 note is still being printed, the ₹ 2000 note was last issued date 2017. [1] [2] [3] The RBI announced on 18 August 2017 that it would soon issue a new ₹ 50 note. [4]
2016 saw the discontinuation of ₹500 and ₹1,000 notes due to the 2016 Indian bank note demonetisation and consequently the introduction of new a ₹500 note, and a ₹2,000 note- a first for the currency. Later on, new notes of old denominations viz. ₹10, ₹20, ₹50 and ₹100 were issued with old notes of the same value still being ...
A sahyog hundi passes from one hand to another until it reaches the final recipient, who, after reasonable enquiries, presents it to the drawee for acceptance of the payment. Sahyog means co-operation in Hindi and Gujrati, the predominant [6] languages of traders. The hundi is so named because it required the co-operation of multiple parties to ...
The Indian 500-rupee banknote (₹500) is a denomination of the Indian rupee. In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in 2000 while ₹1 and ₹2 notes were discontinued in 1995. The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series.
On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India, displayed in alphabetical order. Languages included on the panel were Assamese , Bengali , Gujarati , Kannada , Kashmiri , Konkani , Malayalam , Marathi , Nepali , Odia , Punjabi , Sanskrit , Tamil , Telugu and Urdu .
Fake Indian Currency Note (FICN) is a term used by officials and media to refer to counterfeit currency notes circulated in the Indian economy. [1] In 2012, while responding to a question in parliament, the Finance Minister, P. Chidambaram, admitted that there is no confirmed estimate of fake currency in India. [ 2 ]