Rs 2,000 Withdrawal: Don’t Panic, Majority in Rural India May Not Even Have A Single Bank Note, Say Officials
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Last Updated: May 19, 2023, 21:02 IST The decision may be discreetly aimed at the super-rich who may have hoarded Rs 2,000 notes in black money and will now have to declare them. "Thanks to the arrival of digital payments and especially UPI in the past six years, a wide majority may not have even a single Rs 2,000 note at home. Given an over four-month window, there is no urgency to exchange or deposit it," an official said The Rs 2,000 bank note will remain legal tender even after September 30 this year and government officials feel that a majority of common people, especially in rural areas, may not have even a single Rs 2,000 bank note with them at present. ALSO READ | Rs 2000 Notes Withdrawn: Can You Use These Notes Now? Here’s All You Need To Know Advising against any panic, an official said the government did not anticipate wide ramifications of the Rs 2,000 note withdrawal decision, as it feels most people, especially in rural India, have been mostly dealin...