The total value of Rs 2,000 notes in circulation declined to 3.56 trillion rupees as of 19th May from 3.62 trillion rupees as on 31st March, the central bank said in a statement.
The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy's currency in circulation overnight.
While Rajya Sabha MP Sushil Modi urged central government to discontinue ₹2000 notes, fellow BJP MP Nishikant Dubey defended demonetisation in Lower House.
Modi govt had issued new Rs 2,000 and Rs 500 banknotes after cancelling the legal tender of Rs 1,000 and Rs 500 notes (old series). Printing of Rs 2,000 notes has now stopped.
The current Iran war has laid bare a fundamental reality: 20 per cent of global energy trade cannot afford to rely on a single artery, no matter how resilient and cost-effective.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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