Where Did Rs 2000 Notes Go?

2,000 Rupee Note Observes Dramatic Decline in Circulation Over Past Six Years.                       

Higher denomination bills are rarely seen at bank ATMs or other transactions. This is due to a discrepancy between the quantity of Rs. 2,000 notes in circulation, which was issued after demonetization, has dropped dramatically over time and now represents 13.8% of the total amount of notes in circulation, down from 50.2% in 2017. and the rate at which they are produced in daily transactions and suspected cash hoarding due to their great value. This has resulted in a drop in the overall quantity of notes in circulation during the past six years. A department official at the Telangana Secretariat named RR Murthy claims that the lack of bigger denomination bills also makes transporting cash difficult. For instance, if one had to take 20,000, at the very least, 40 notes of 500 would be needed instead of 10 notes of 2,000. For the same reason, customers are footing the bill for the lack of 2,000 notes. As ATMs can only dispense 40 notes at once, we can withdraw just 20,000. And in order to withdraw more, customers have to pay higher ATM use fees. Therefore, banks are actually benefiting from this. And it would be beneficial for a client if there were also 2,000 notes in an ATM tray.

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