Rs 2,000 Notes Vanishing From Banks and ATMS

There has been a severe shortage of Rs 2000 notes in circulation. Hoarders back in business?

rupee2000

Banks and ATMs across the country are witnessing a strange phenomenon – the case of vanishing Rs 2000 notes.

This sudden disappearance of Rs 2,000 notes in recent weeks and months has stumped bankers and ATM operators.

So, why is this shortage? Sources say it may be due to hoarding as the pink currency can easily be stored.

In some areas, people have been exchanging four Rs 500 notes to get the high valued pink currency.

Adding to the crisis supply of new notes from the Reserve Bank of India bank has sharply declined. This has led to speculations that it could be a deliberate strategy to restrict the flow of high-value notes in the economy.

In some areas, the SBI has started recalibrating the Rs 2,000 currency cassettes Rs 500 currency ones, according to The Economic Times.

No Comments Yet

Leave a Reply

Your email address will not be published.

* Copy This Password *

* Type Or Paste Password Here *

23,431 Spam Comments Blocked so far by Spam Free Wordpress

 

Go Social with News Time Now,

FOLLOW US ON

Please wait...

Subscribe News Time Now

Want to be notified when our article is published? Enter your email address and name below to be the first to know.