Top Public Sector Bank Puts Curb On Circulation Of Rs. 2000 Notes: Report

As per a report, currency notes in Rs. 2000 denomination are currently placed under restriction for circulation by one of the leading public sector bank. Accordingly, the top management has been instructed to keep Rs. 2000 bank notes out of circulation and also not to load them at the ATM of the bank. Nonetheless, fresh deposits made in Rs. 2000 are still being accepted.

Top Public Sector Bank Puts Curb On Circulation Of Rs. 2000 Notes: Report

On a more recent basis, a lot of cases relating to counterfeit currency have been reported. Of all the Rs. 2000 bank notes seized by the National Criminal Records Bureau (NCRB), 56% were found to be fake. And amid it, there has been seen a fall in the production and hence circulation of Rs. 2000 bank notes across the country.

The RBI is still to make clarification on reasons for curbing the circulation of notes, said the report further.

In a reply to a RTI enquiry, the RBI revealed that printing of Rs. 2000 bank notes has been discontinued since October 2019. Probably, current Rs. 2000 notes will be withdrawn soon and reprinting with improved safety features would begin.

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