TTIN FINACIAL JOURNAL - The RBI denied the reports that claimed that the Central Bank of the country is considering withdrawing old currency notes of Rs. 100, 10, and 5 and stopping its circulation in the economy in the latter part of the year. An RI officer said that there is no truth to such reports.
MUMBAI (JUNE 8, 12:00 IST): Amid speculations and reports coming from everywhere that the old currency notes of Rs.100, 10, and 5 would stop permanently for the later part of the year. The RESERVE BANK OF INDIA (RBI) said that the Central Bank has no plans to do such and terms reports as FAKE. An RBI spokesperson thrashed such false reports and clarified that they are not planning any such moves. However, there is no confirmation from the RBI that is such a matter as of yet.
As reported by several media concerns previously and at the beginning of the year, Assistant General Manager of RBI, B MAHESH while speaking at a DISTRICT LEVEL SECURITY COMMITTEE (DLSC) and District Level Currency Management Committee (DLCMC) stated that the old currency notes of Rs. 100, 10, and 5 will go out of circulation this year, as RBI plans to withdraw them.
ALSO READ: What is Fiscal Stimulus?
New currency notes of Rs. 100 were released by the Reserve Bank of India in 2019. The Central issued new currency notes in Lavender color. All issued old legal tender Rs. 100 notes will remain legal tender. The Central Bank said while introducing the new currency notes. PLUS RBI on previously introduced the currency notes of Rs. 200 and Rs. 2000, after the demonetization in November 2016.
In April 2019, responding to an RTI query The RESERVE BANK OF INDIA (RBI) conveyed that it has halted the production of high-value banknotes. This provided the answer for lesser Rs.2000 notes at ATMs in the country. This also affected the financial planning of people all over the country as most of the citizens either use their money for investing or keep it with them.
Speaking of the Rs. 10 coins, even after 15 years of its introduction, the coin has not still been accepted by the traders and businessmen in the country, which has become a problem for banks and RBI. Several rumors prevailed around the coin that created doubt among people that the coins without the rupee sign on them are invalid. They still refuse to accept the coins.
Comments
Post a Comment