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2000 Rupees Notes: Demonetisation is not new, till now notes have been closed so many times in India

by Vikram Dave
20/05/2023
in Business
Reading Time: 2 mins read
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2000 Rupees Notes: Demonetisation is not new, till now notes have been closed so many times in India

New Delhi. By issuing a notification, RBI has now issued a notification informing about not printing new Rs 2,000 notes. However, economic experts are not surprised by this, because the printing of 2 thousand notes was stopped from 2018-2019 itself. Now 2 thousand notes are rarely found with people. On the other hand, 2 thousand notes are seen in ATMs now and then. But now the question is, why has the government decided not to print Rs 2,000 note? So, while giving information about this, economic analysts say that this decision has been taken to attack black money, but there has been a sharp reaction from the Congress. Congress has linked it with demonetisation. Let us tell you that Congress leader Jairam Ramesh has taken a dig at this decision of the government. He said that the specialty of our self-proclaimed Vishwaguru. First act, second thought (Fast). The Rs 2000 notes introduced with such fanfare after the disastrous Tughlaqi decree of 8 November 2016 are now being withdrawn.

But as a reader you need to know that this is not the demonetisation of 2016, but different from it. In this, it has been decided to exclude any particular note from the economic transaction, but under demonetisation, 500 and 1000 notes were completely out of circulation and after that new notes of 500 and 2 thousand have to be seen. Had met At the same time, the government has decided not to print this Rs 2,000 note. Apart from this, those who currently have 2 thousand notes have been given the option of returning it to the local bank by September 30, but in this report we are going to tell you that in our country Demonetisation is not a new thing.

First note ban in 1946

Perhaps you do not know that for the first time demonetisation was done in 1946 during the British rule. On January 12, 1946, the Viceroy and Governor General of India, Sir Archibald Wavell, proposed an ordinance to demonetize high-denomination bank notes. With this, high denomination banknotes of Rs 500, Rs 1,000 and Rs 10,000 became invalid from 12 midnight on January 26.

Second demonetisation in 1978

This was followed by demonetisation in 1978. Then, under the Janata Party leadership, demonetisation was announced with the aim of curbing black money. Notes of Rs 1,000, Rs 5,000 and Rs 10,000 were demonetised by the then government. At that time the finance minister in the Desai government was H.M. Patel while former Prime Minister Manmohan Singh was the Finance Secretary.

3rd demonetisation in 2016

After this, the Modi government at the Center had announced demonetisation on 8th November. Under this, 500 and thousand notes were taken out of circulation. This decision of the government was widely criticized by the opposition. But the Modi government had told the reason behind this decision to curb black money. The answer to which is still sought from the opposition that how much black money has come out of demonetisation?

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