Category: Miscellaneous

01 Jan 2021 00:45

Joined:	24/03/2011
Level:	Platinum
Points:	56413

Points:	4

Something to think over. What if it happens to Rs. 2000/-

Members,
As of now, we don't find Rs. 2000/- currency notes in circulation. We don't get from ATMs. Supposing the Prime Minister announces that the currency note of Rs. 2000 will not be valid w.e.f. tomorrow. All currency notes should be deposited in the banks within a week. Bank will not accept them after the date.

What will happen? Who will be affected? Will there be any problem like we faced during November 2018 when Rs. 1000/- and Rs. 500./- became invalid?

Post your good thoughts.

#719352

01 Jan 2021 04:55

Joined:	12/10/2009
Level:	Platinum
Points:	234903

Points:	5

Why there should be new apprehensions on the 2000 rupee note ban from the author when the country has been passing through the recovery stage of corona effect and we are rejigging to achieve the past glory and in this regard having one more demonetization would be uncalled for and that would not happen. But it is the fact that the big note has gone out of sight and out of circulation in the recent past, may be govt is controlling it for having the feel that China would be having a eye on our currency to duplicate it with the connivance of Pakistan. Let the new year be celebrated with joy and new hopes. By the way the last demonetization has really cleansed the system and very less people are now indulging in black money trade and therefore govt need not take any decision on banning rupee 2000 note as of now.

K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#719359

01 Jan 2021 06:51

Joined:	10/12/2016
Level:	Platinum
Points:	72454

Points:	5

In the present situation Govt will not do any such thing which will create panic in the people because as Mohan has rightly pointed out we are going towards a recovery phase and anything adverse to economic actions would be harmful for the spirit of the business environment. Let us anyway assume that what will happen if Govt takes such an action. First thing is that people have learnt a lesson from the last demonetisation exercise and now not keeping large cash with them. Most of them are now switched over to online transactions. Another thing is that many intelligent people who have large cash might have converted it to gold to escape the eyes of the monitoring agencies especially the money which comes through drug trafficking, corruption, child trafficking, hawala transactions, political donations in camera, wrong trading practices, hoarding, and many such evil transactions that evil people do day and night in this part of the world. So, prima facie there will not be much hue and cry.

Knowledge is power.

#719360

01 Jan 2021 06:59

Joined:	13/08/2010
Level:	Gold
Points:	14557

Points:	2

There may be many reasons for the absence of Rs 2000/ currency notes from the ATMs. This should not give to any unnecessary speculation that these notes may be banned. We can discuss this as and when it happens.

" Be Good and Do Good "

#719361

01 Jan 2021 07:03

Joined:	12/10/2009
Level:	Platinum
Points:	234903

Points:	2

Many new ATM machines are small in nature and the slot is very small to accommodate the 2000 rupee notes and hence are dispensing only 500 and 200 currencies.

K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

#719365

01 Jan 2021 07:43

Joined:	27/09/2019
Level:	Diamond
Points:	13136

Points:	3

I enquired from my bank about 2000 rupee note, there is nothing of this sort as speculated by the author. It could be any reason why ATM is not giving 2000 rupee note. If government wants to ban it , I think RBI will pass an order to all banks and people will also be informed about it.
The author is apprehensive about this issue, being him apprehensive is also not wrong. Similar doubts may come in your mind too when he is noticing it in ATM.

#719388

01 Jan 2021 12:05

Joined:	25/11/2014
Level:	Diamond
Points:	25201

Points:	4

At the present phase, there should not be such an issue of demonetisation of the existing Rs 2000/- since the situation is different and the issues with which we all are facing at this moment such as unemployment, slow industrial productivity, affliction of the people with corona, downsizing of the employees from the industries need immediate attention from the government. When our economy is not at healthy stage due to the current pandemic, the government would not like to divert the issues with the fresh demonetisations of the current currency of Rs 2000/-.
Hence under such situations indicated above, there does not seem to resurface of scrapping the existing currency.

#719389

01 Jan 2021 12:10

Joined:	24/03/2011
Level:	Platinum
Points:	56413

Points:	1

All my dear members,
If a sudden demonetization is announced banning the 2000/- currency notes, nothing serious will happen. It would affect only the person who has stored 2000/- rupees currency notes inside their home. Now everyone has a bank account and the transaction is done digitally. There is no chance for a person not having an account to hold Rs. 2000/- currency notes. They would have all Rs.500/- notes only.

Since Rs. 500/- is in large circulation, public won't be affected, banks won't be crowded. ATM wont have queues.

Only the black money holders would be affected. They will be caught while exchanging notes with the bank.

No life without Sun

#719416

01 Jan 2021 16:04

Joined:	02/06/2009
Level:	Platinum
Points:	101734

Points:	4

Some times we see Rs.2000/- notes also these days. Yesterday only my son got it from a bank and spent it. But we see once in a while only. The government is not printing new Rs.2000/- notes but already printed are in circulation and there is no chance at the present situation to ban them. So let us not go for such speculations.
Already there are many problems the government is facing now. Already COVID19, Article 365, farmer's agitation etc are there on hand. So they may not go for any such drastic action now.
These days we see more Rs.200/- notes, Rs.100/- notes and Rs.500/- notes in circulation. Even the government takes a drastic step of banning these notes only rich people who have black money with them only may suffer but not common people.

drrao
always confident

Something to think over. What if it happens to Rs. 2000/-

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