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Today Date : Monday, May 20, 2024

Rs.2000 currency  disappearance: Is it another  demonetization?

Rs.2000 currency disappearance: Is it another demonetization?

In November 2016, the central government started demonetization. With this, old 1000 rupee and 500 rupee notes were declared invalid and new 500 and 2000 rupee notes were introduced. 
But recently the number of 2000 rupee notes in circulation is decreasing drastically.


It has come to light through the Freedom of Information Act that the RBI has not printed Rs 2000 notes for the last two years after March 31, 2021. In the last years 2016-2017, 354 crores of 2000 rupee notes were printed, in the last years 2017-2018 it has been reduced to 11.15 crore notes and in the year 2018-2019 it has been reduced to 4.66 crore notes.


The number of counterfeit 2000 rupee notes seized across the country increased from 2,272 in 2016 to 74,898 in 2017. After that, the number of fake 2000 rupee notes increased to 2.44 lakhs in the year 2020.
Due to this, the Central Reserve Bank has stopped the printing of 2000 rupee notes from March 31, 2021. Also, as the number of 2000 rupee notes in circulation is gradually decreasing it is everyone's wonder whether  the 2000 rupee note heading for a loss of value? The question has arisen.


As a result, people face another loss of currency value. The people of the country have not yet forgotten the pain and suffering they faced when Rs 1000 and Rs 500 notes were declared invalid. Reducing the circulation of 2000 rupee notes raises doubts.


The people of the country are not ready to face such big or small suffering again. It is necessary for the Union Government to plan and act carefully!