India Withdraws 2 000 Rupee Notes Months Before Polls


 
The decision was made as the 2,000 rupee note isn’t commonly used for transactions. (AFP pic).DELHI: India is withdrawing its highest-value currency note just months before a national election, when cash in circulation typically surges.
People have until Sept 30 to deposit 2,000 rupee (US$24) notes into their bank accounts in batches of maximum 20,000 rupees each or exchange them for other denominations, the Reserve Bank of India said in a statement Friday citing its ‘clean note policy’. It didn’t say what happens to those unable to meet the deadline but added that as of now the notes remain legal tender.
The move holds echoes of Prime Minister Narendra Modi’s demonetisation decision in 2016, which came weeks before a key state election and was alleged to be a clampdown on spending by political rivals. While that move removed almost all cash with the public, the latest decision impacts just about 11% of currency in circulation and therefore will probably trigger little chaos.
Ads by KioskedThe RBI said the decision has been taken as the 2,000 rupee note isn’t commonly used for transactions and “the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.”
“The RBI had already shown an inclination to reduce the usage of 2,000 rupee notes in the economy,” said Rahul Bajoria, an economist at Barclays Plc in Mumbai. “Unlike the previous episode in 2016, this withdrawal is unlikely to be disruptive for economic activity.”
The forced increase in deposits could ease some pressure on local lenders struggling to fund double-digit credit growth in recent months. The RBI has raised its benchmark rate by 250 basis points since May 2022.
“Deposit accretion of banks could improve marginally in the near term,” said Karthik Srinivasan, a senior vice president for financial sector ratings at Icra Ltd. “This will ease the pressure on deposit rates hikes and could also result in moderation in short-term interest rates.” - FMT


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2023/05/india-withdraws-2000-rupee-notes-months.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
India Tries To Screw Russia On Rupee Conversion

India Tries To Screw Russia On Rupee Conversion

papar berkaitan - pada 10/5/2023 - jumlah : 190 hits
Here is something interesting Because of the NATO sanctions Russia has been selling cheap oil to the Indians sometimes up to a discount of 40 from the market prices Plus Russia has been accepting payment for the oil in Indian Rupees The Rus...
Lynas Given A Few Months More Says Minister

Lynas Given A Few Months More Says Minister

papar berkaitan - pada 8/5/2023 - jumlah : 164 hits
Science technology and innovation minister Chang Lih Kang taking a close look at vaccine production at a Pharmaniaga plant earlier this week PETALING JAYA Rare earth producer Lynas has been granted an extension of a few months to continue p...
Demi Kekasih Gelap Mata Seleweng Rm700 000 Wang Syarikat

Demi Kekasih Gelap Mata Seleweng Rm700 000 Wang Syarikat

papar berkaitan - pada 7/5/2023 - jumlah : 328 hits
Juwan Riduanam hmetro com myWida berpelukan bersama ayahnya ketika Majlis Jalinan Kasih Hari Raya Aidilfitri dan Kaamatan di Penjara Wanita Kota Kinabalu FOTO Juwan RiduanKota Kinabalu Tiada yang lebih menggembirakan buat seorang penghuni P...
Maips Bid To Vary Loh S Custody Order Comes Before New Judge

Maips Bid To Vary Loh S Custody Order Comes Before New Judge

papar berkaitan - pada 25/5/2023 - jumlah : 204 hits
Loh Siew Hong is seeking a stay of MAIPs application to vary a custody order over her three children pending a challenge to the Court of Appeal order allowing MAIPs to intervene in the proceedings KUALA LUMPUR Justice Hayatul Akmal Abdul Az...
Were Sultans Consulted Before Allah Case Appeal Withdrawn Asks Hamzah

Were Sultans Consulted Before Allah Case Appeal Withdrawn Asks Hamzah

papar berkaitan - pada 17/5/2023 - jumlah : 156 hits
Opposition leader Hamzah Zainudin warned that the decision to withdraw the appeal could threaten the country s racial and religious harmony PETALING JAYA Opposition leader Hamzah Zainudin has questioned if the government consulted the Malay...
Macc Drops Inquiry On Pn Getting Gaming Funds For Polls

Macc Drops Inquiry On Pn Getting Gaming Funds For Polls

papar berkaitan - pada 26/5/2023 - jumlah : 140 hits
Azalina Othman Said said MACC found the information that the funds came from gaming companies to be very general and no parties were able to confirm it PETALING JAYA The Malaysian Anti Corruption Commission has dropped the investigation int...
Careful Mulling Needed Before Raising Epf Employer S Contribution To 20

Careful Mulling Needed Before Raising Epf Employer S Contribution To 20

papar berkaitan - pada 11/5/2023 - jumlah : 215 hits
By Dr Paul Anthony Mariadas A possible leap from 13 to 20 in employer contributions to the Employees Provident Fund is a significant increase of almost 54 The increase in the employer s contribution rate will help to address the issue of lo...
Video Satire Pedas Jokowi Tidur Pulas Lewati Jalan Rusak Lubang 1 000 Di Lampung

Video Satire Pedas Jokowi Tidur Pulas Lewati Jalan Rusak Lubang 1 000 Di Lampung

papar berkaitan - pada 7/5/2023 - jumlah : 222 hits
Presiden Jokowi berkomentar satire soal jalan rusak Provinsi Lampung Salah satunya di Kecamatan Seputih Raman Lampung Tengah
Pengambilan One Off 19 000 Guru Masih Belum Cukup Nutp

Pengambilan One Off 19 000 Guru Masih Belum Cukup Nutp

papar berkaitan - pada 8/5/2023 - jumlah : 282 hits
PUTRAJAYA Kementerian Pendidikan Malaysia telah mengambil kira kira 19 000 guru melalui pengambilan khas namun kesatuan guru keseluruhan masih berpendapat bahawa jumlah itu tidak mencukupi untuk menangani isu kekurangan guru di seluruh nega...
Pensyarah Didakwa Hina Nabi Jawi Turut Buka Siasatan

The Difference In The Concept Of Illicit Relationship Between Muslims And Non Muslims

Let S Not Return To The Old Ways Of Tight Media Control

Murid Buktikan Pada Guru Lembu Makan Martabak

Air Terjun Tujuh Puteri Bukit Sri Permata

Bank Islam Berwajah Baru Melalui Aplikasi Dan Web

Company Director Scammed Of Over Rm1mil By Inspector Harun

Mixology Vape S Commitment To Quality Crafting The Best Vape Flavours Nz


echo '';
Senarai Lagu Tugasan Konsert Minggu 1 Gegar Vaganza 2024 Musim 11

Info Dan Sinopsis Drama Berepisod Dhia Kasyrani Slot Akasia TV3

Biodata Terkini Reshmonu Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Hey Waley

Gegar Vaganza 2024 GV 11 Hadiah Tiket Peserta Juri Format Pemarkahan Dan Segala Info Tonton Live Di Astro Ria Dan Sooka

6 Janji Donald Trump Kalau Dia Naik Jadi Presiden Semula


Kathryn And Sydney S Fantastic Pantyhose Adventure Part One

15 Creative Diy Fall Garlands To Spruce Up Your Autumn D Cor

Rare Footage Of Fish Rescuing Friend From Snake Catches Netizens Attention

Kacang Pool Roti Rentung Pertama Kali Merasainya

Resepi Tenggiri Masak Sambal Ala Arab Zigni Yemeni

Pengalaman Naik Mahkamah Saman Jpj Bila Kereta Tiada Roadtax Dan Insuran