New Delhi. RBI will no longer print Rs 2,000 note. After this decision, there were different reactions from the people. Barring a few, most have supported it. A detailed notification has also been issued by RBI in this context. In which it has been explained in detail why the government has decided not to print this 2 thousand note. Meanwhile, a word has been mentioned in the notification, namely Clean Note Policy. It has been told in the notification that this decision has been taken under the Clean Not Policy. Now the same question is arising in the minds of the people that after all, is this a clean not policy?
What is this clean not policy
In the year 1988, the government had brought clean note policy with the aim of providing good quality notes to the general public. The purpose of this policy was also to curb the circulation of fake notes. At the same time, this step of the government also had a positive effect. Because of this policy, people were forced to deposit old notes in banks and get new notes instead. Apart from this, this policy also had a good impact on the economy. But economic experts say that this decision had created a cash crunch in the market at that time, due to which sectors like real estate, retail and tourism were greatly affected. Apart from this, it had a bad effect on the rural economy as well, but it has curbed fake notes to a great extent, keeping in mind that it is highly appreciated.
How the clean knot policy works
Now you know how this policy works? So let us tell you that under Section 27 of the RBI Act 1934, no person is allowed to tamper with the notes in any way. Apart from this, he is also not allowed to destroy the notes, so that the circulation of the notes remains intact. This policy was brought for the purpose of making digital payments secure, stating economic knowledge. At the same time, now the government has also decided not to print Rs 2,000 notes under this policy, so it is expected that now you must have understood what this policy is. Let us tell you that by September 30, you can return the two thousand note to any local bank and get another note instead, but keep in mind that if you do not change the note by the due date, then it will be kept with you. The note will be just a piece of paper. On the other hand, as for now, you can do all financial transactions with it as you have been doing till now.