End of Rs. 2,000 notes ?
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End of Rs. 2,000 notes ?

February 28, 2020

ATMs being recalibrated to fit more Rs. 500, Rs. 200 and Rs. 100 notes

New Delhi: After introducing Rs. 2,000 currency notes post-demonetisation in 2016, the high-value note seems to have lost its sheen in three years. 

As part of stopping the use of Rs. 2,000 notes, several banks have initiated the process to recalibrate their ATMs in a bid to completely replace the notes with low denomination notes, said reports. Banks are recalibrating ATMs to replace high-value Rs. 2,000 notes with Rs. 500 notes. Though there is no official confirmation from the Reserve Bank of India (RBI) or other authorities, it is assumed that this could be part of the strategy of the Central Bank to keep a tab on the total amount of high-value currency in circulation.

Chests which hold Rs. 2,000 notes in ATMs will be replaced with notes of Rs. 100 or Rs. 200 denominations. Out of the four cassettes within ATMs, three will have Rs. 500 notes and the fourth will be filled with Rs. 100 or Rs. 200 notes. Many ATMs have already replaced cassettes holding Rs. 2,000 notes, while many are in the process to complete it within a year’s time, reports said.

As per bank officials, the highest-value currency will remain a legal tender, but it will gradually be phased out of circulation. Efforts are underway to recalibrate about 2,40,000 ATMs to replace Rs. 2,000 notes with Rs. 500 notes.

Early this month, top public sector banks issued instructions to its senior officials to restrict the circulation of Rs. 2,000 currency notes. The officials were also asked not to create panic among customers. They were asked to accept the notes from bank customers.

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In October last year, the RBI had informed that it had not printed a single bank note of Rs. 2,000 denomination in Fiscal Year (FY)-20 as it had stopped the printing of the high-value currency temporarily on security grounds.

2 COMMENTS ON THIS POST To “End of Rs. 2,000 notes ?”

  1. citizen says:

    Good ! Atleast union government generating some employment in these sectors by changing notes every year and re calibrating ATMS.
    Imagine 2,40,000 ATM’s getting re calibrated every alternate year, just consider 1000 INR per ATM so it will be 24,00,00,000.
    And imagine the cost incurred to print 2000 note.
    Who is paying this ??
    we are paying
    Why should we pay ??
    Because we have elected bunch of fools to rule us in name of religion
    And what did we achieve from demonitization ??
    Only God knows ! Even they do not know who did this !

  2. Raj says:

    India has
    1. The Most Watched Government
    2. The Most Pathetic opposition
    3. World’s worst Media
    4. World’s most demanding Minority
    5. World’s most complacent Majority
    6. World’s most Venomous liberals
    7. World’s most deceitful intellectuals
    8.Most confused voters
    9. and the Best PM that even enemy countries admire his integrity and character
    If you don’ t believe , just look at this list and see the appeasement in action

    *Delhi Assembly*
    *Aam Aadmi Party*
    *Assembly Name*
    【1】New Delhi Arvind Kejriwal
    【2】Padpadganj Manish Sisodia
    【3】Babarpur *GyaSuddin Sheikh*
    【4】Shahdara *Imran Tahir*
    【5】 Seelampur *Haji Isharaq Khan*
    【6】Gokalpuri *Salauddin*
    【7】Seemapuri *Badruddin Khan*
    【8】Karaval Nagar *Iqbal Ahmed*
    【9】Sangam Vihar *Hamid Ansari*
    【10】Timarpur *Sadab Hussain*
    【11】Rajendra Nagar *Zakir Bhai*
    【12】Delhi Kent *Nusrat Khan*
    【13】Adarsh Nagar *Sabina Parveen*
    【14】Jungpura Praveen Kumar
    【15】Burari Sanjeev Jha
    【16】Kalkaji Atishi Marlena
    【17】Malviya Nagar Somnath Bharti
    【18】Okhla *Amanatullah Khan*
    【19】Mongolpuri *Abbas Zafar*
    【20】Greater Kailash *Mohammad Ali Khan*
    【21】Najafgarh *Muhammad Badruddin*
    【22】Chandni Chok *Mo Isanel Khasan*
    【23】Ballimran *Imran Hussain*
    【24】Ghoda *Altaf*
    【25】Laxmi Nagar *Sahabuddin Tagi*
    【26】Kondali *Tahira Begum*
    【27】Tilak Nagar *Ruby Khan*

    This list is more than enough to prove Hindu terror in Delhi violence and free all the real culprits based on religion.
    Nobody can rescue the stupid people who want to see Nehru Clan as the PM. People can write flowery arguments and abuse others with arguments copied from Venomous liberals or deceitful intellectuals , but here are the facts and they will always safeguard themselves .

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