500 currency update: After the new Rs 2000 notes are banned, there is a fear in the minds of the people that the government may also put ₹ 500 notes out of circulation. Now the response has been given by the government.
After the new ₹ 2000 notes are banned, there is a fear in the minds of the people that the government may also put ₹ 500 notes out of circulation. Now the response has been given by the government. Along with this, the government has also clarified on the plan to reintroduce the Rs 1000 note.
In fact, during the Monsoon Session, the Finance Ministry was asked in the House about demonetisation of ₹500 notes, re-introduction of ₹1000 notes in the economy. In response, the Finance Ministry refused to demonetise the ₹500 note. Along with this, the news of re-introduction of Rs 1000 note was also dismissed.
Let us tell you that in November 2016, the government had announced demonetisation. Under this, apart from the old note of 500 rupees, the note of 1000 rupees was closed. In return, the Reserve Bank launched new notes of Rs 500 and Rs 2000.However, now the Reserve Bank has announced the withdrawal of ₹2000 notes from circulation in mid-May this year. The last date for depositing ₹2000 notes in the bank is 30 September. The government has also refused to plan to extend this deadline. The Government has informed that there is sufficient buffer stock of bank notes of other denominations across the country.
