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The Latest Breaking News from RBI

Indian economy to surpass 7% growth in FY 23: SBI research report

NEW DELHI: The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.

The Times of India

Fuel dealers in Punjab says facing ‘difficult situation’ similar to 2016 due to withdrawal of ₹2000

After the Reserve Bank of India (RBI) announced the withdrawal of ₹2,000 banknotes from circulation in pursuance of its ‘Clean Note Policy’, the fuel dealers in Punjab on Thursday said they were facing a “difficult situation” similar to the year 2016, when demonetisation was implemented.

The Hindu

Morning Digest | Ron DeSantis launches 2024 presidential bid to challenge Donald Trump; GDP growth may cross 7% in 2022-23: RBI Governor, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

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Letters to The Editor — May 25, 2023

Readers’ mail to The Hindu’s Letters to The Editor

The Hindu

The fundamental value of the rupee

By casting a shadow on the public’s perception of what is legal tender, the RBI is destabilising confidence in the rupee

The Hindu

PIL in Delhi HC challenges RBI decision to withdraw Rs 2000 denomination banknotes

A Public Interest Litigation (PIL) has been moved in Delhi High Court seeking direction to quash the Reserve Bank of India (RBI) Notification dated May 19, 2023, whereby the RBI has taken a decision to withdraw the Rs 2000 denomination banknotes from circulation under the clean note policy or otherwise.…

Dynamite News

Centre should first explain why ₹2,000 note was introduced: Digvijaya

The RBI issued the withdrawal of all ₹2,000 currency notes on May 19, and has given the public till September 30 to deposit or exchange all the notes at banks.

The Hindu

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Exchange of ₹2,000 notes begins; business as usual at banks in Telangana

High net-worth individuals, those dealing in realty, businessmen, liquor outlets, petrol bunks, fertilizer shops, farmers with large land holding primarily were among those who opted to deposit, ostensibly because there was no limit on such remittances.

The Hindu

Do not turn away customers who pay using ₹2000 notes: Consortium of Indian Petroleum Dealers

The Consortium of Indian Petroleum Dealers (CIPD), a body representing over 60,000 fuel outlets across the country, has urged dealers not to turn away customers who pay using ₹2,000 notes and, instead, handle them on a case-by-case basis to avoid complaints

The Hindu

Telangana continues to depend on financial accommodation facilities provided by RBI to meet requirements

In view of poor revenue receipts the government had to avail the financing options of the RBI to fund its spree of welfare programmes through most of March in the last fiscal

The Hindu

RBI defends before Delhi HC ₹2,000 banknote exchange exercise

The Reserve Bank of India (RBI) on Tuesday told the Delhi High Court that withdrawal of ₹2,000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience

The Hindu

₹2,000 notes reach banks amid hiccups

Small queues were witnessed at some bank branches on May 23, 2023 for the exchange of ₹2,000 notes against smaller denominations as part of the withdrawal exercise.

The Hindu

Rs 2000 Note Withdrawn: Exchange and deposit begin today at banks

However all bank notes in Rs 2,000 denomination will continue to be legal tender and be used for transactions, stated RBI. Read further on Dynamite News

Dynamite News

Morning Digest | No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das; wrestlers accept Brij Bhushan’s demand for a narco test under SC supervision, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

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The Times of India

No proposal to introduce ₹1,000 note, says RBI governor

NEW DELHI: RBI governor Shaktikanta Das on Monday said there was no proposal to introduce Rs 1,000 notes and insisted that the decision to withdraw the high-value notes was part of the RBI’s clean note policy and the purpose of remonetisation, following the 2016 demonetisation, has been achieved. Das also…

The Hindu

Slow withdrawal: on the RBI and the ₹2,000 note

The sudden decision by the Reserve Bank of India to withdraw the ₹2,000 notes in circulation has raised questions about the rationale

The Times of India

Burden of loose change driving Mumbai traders to resist Rs 2,000 banknotes

MUMBAI: As the new workweek began on Monday, a few traders in Mumbai began displaying a gradual reluctance to accept Rs 2,000 banknotes after the RBI declared their imminent withdrawal from September 30.

The Hindu

No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das

Seeking to allay concerns about the legal tender status of ₹2,000 currency notes after the September 30 deadline for their exchange or deposit, Reserve Bank of India Governor Shaktikanta Das stressed there is no need to rush to the banks and signalled the last date is only meant to nudge…

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The Hindu

Don’t allow ₹2,000 banknote exchange without requisition slip, identity proof: PIL petition in Delhi HC

A PIL petition has been filed before the Delhi HC to not allow the exchange of ₹2,000 banknotes without requisition slip and identity proof.

Dynamite News

Rs 2000-Note Withdrawal: "Do not rush to banks," as it will continue to be legal tender, says RBI governor

The Reserve Bank of India on Friday withdrew the Rs 2000 denomination banknotes from circulation but they will continue to remain as legal tender. Read further on Dynamite News:

The Times of India

RBI expects return of most Rs 2,000 currency notes in circulation by September 30: RBI governor

NEW DELHI: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said most of the withdrawn Rs 2,000 rupee notes are expected to be returned by the deadline of September 30.

Newslaundry

‘Like a filmstar who fades away’: Newspapers bid farewell to the Rs 2,000 note – and criticise the RBI

Less than seven years after they came into our lives, it’s time to bid farewell to India’s purple Rs 2,000 notes. That’s what the Reserve Bank of India announced last week.

The Hindu

Andhra Pradesh: YSRCP government steeped in corruption, alleges BJP State president Somu Veerraju

Withdrawal of the ₹2,000 denomination banknotes by the Reserve Bank of India is a bold step taken by Prime Minister Narendra Modi to unearth black money, says Somu Veerraju

The Hindu

SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes

The Reserve Bank of India has announced the withdrawal of ₹2,000 currency notes from circulation

The Hindu

₹2,000 note withdrawal will have little impact on MSME and real estate sectors, say stakeholders

The industry is likely to take the decision by the RBI, to withdraw ₹2,000 notes from circulation, in its stride and its impact on the micro and small scale industries will be negligible, said K.N. Narasimha Murthy, president, KASSIA

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