{"id":97012,"date":"2023-05-19T18:18:12","date_gmt":"2023-05-19T18:18:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/05\/19\/indias-central-bank-withdraws-rs-2000-notes-from-circulation-crypto-news\/"},"modified":"2023-05-19T18:18:13","modified_gmt":"2023-05-19T18:18:13","slug":"indias-central-bank-withdraws-rs-2000-notes-from-circulation-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/indias-central-bank-withdraws-rs-2000-notes-from-circulation-crypto-news\/","title":{"rendered":"India&#8217;s Central Bank Withdraws Rs 2000 Notes From Circulation\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>India&#8217;s central bank, the Reserve Bank of India (RBI) on Friday announced the withdrawal of the Rs 2000 denomination banknotes from circulation.  However, the banknotes will continue to be legal tender.  The move comes as part of the central bank&#8217;s &#8220;Clean Note Policy,&#8221; which prioritizes providing good quality currency notes.  The RBI <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=12505&#038;Mode=0\">said<\/a> a majority of the notes were found to have completed their estimated lifespan.  Hence, the withdrawal of Rs 2000 denomination banknotes will mean Rs 500 notes will be the highest denomination currency in circulation.<\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/cbdc-india-rbi-to-pilot-launch-e-rupee\/\"><strong>India Launches E-Rupee Pilot Project;  Will It Affect Crypto Market?<\/strong><\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2>Exchange Until September 2023<\/h2>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>The central bank will allow exchange of the \u20b92000 banknotes up to September 30, 2023. In view of the public convenience, the RBI has also placed a limit of \u20b920,000 for single exchange.  Fresh issuance of the bank notes will be discontinued with immediate effect, the central bank said in a circular.<\/p>\n<blockquote>\n<p>&#8220;With a view to minimize inconvenience to the public, to ensure operational convenience and avoid disruption of the regular activities of bank branches, all banks may exchange \u20b92000 banknotes upto a limit of \u20b920,000\/- at a time.&#8221;<\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>The actual objective for the launch of Rs 2,000 notes was to meet the immediate currency requirement of the economy after withdrawal of the legal tender status of all \u20b9500 and \u20b91000 banknotes in circulation in November 2016. Therefore, now that the purpose if fulfilled, the highest denomination notes will be withdrawn.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ripple-sec-xrp-lawsuit-settlement-hinman-docs\"><strong>Ripple SEC Lawsuit Settlement Incoming With Hinman Docs Delay?<\/strong><\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA149043\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Anvesh reports major developments around crypto adoption and trading opportunities.  Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies.  Anvesh is currently based in India.  Reach out to him at anvesh@coingape.com.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/69560a4be8debdb70e914532faf8168a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/69560a4be8debdb70e914532faf8168a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD149043\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s central bank, the Reserve Bank of India (RBI) on Friday announced the withdrawal of the Rs 2000 denomination banknotes from circulation. However, the banknotes will continue to be legal tender. The move comes as part of the central bank&#8217;s &#8220;Clean Note Policy,&#8221; which prioritizes providing good quality currency notes. The RBI said a majority [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":92140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-97012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/97012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=97012"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/97012\/revisions"}],"predecessor-version":[{"id":97013,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/97012\/revisions\/97013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/92140"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=97012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=97012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=97012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}