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How does it matter if they stopped releasing these notes a year ago? Do the notes that they released earlier disappear from pockets of public? On March 31, 202
by throwaway384629 3y ago
How does it matter if they stopped releasing these notes a year ago? Do the notes that they released earlier disappear from pockets of public?
On March 31, 2023 the total value of these banknotes in circulation was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation. [1]
[1] https://economictimes.indiatimes.com/news/economy/policy/rs-2000-notes-to-be-withdrawn-from-circulation-to-continue-as-legal-tender/articleshow/100360379.cms https://economictimes.indiatimes.com/news/economy/policy/rs-...
- unmole 3y ago> was Rs 3.62 lakh crore constituting 10.8% of all the currency notes in circulation Is the point. Demonetization made ~80% of the currency in circulation no longer legal tender overnight. This phasing out is in no way comparable. Which makes the idea that people will have to queue up at banks unbelievable.
- SanjayMehta 3y agoSo deposit your 2000/- notes hoard in a bank, withdraw as many 500/- notes as you need. There's no limit to deposits, only on exchanging cash anonymously.
- throwaway384629 3y ago"Guess now it's again time to line up in banks." Thats what I mentioned in the top comment to which are you are replying.