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Could rising currency in circulation be a reason for the withdrawal of Rs 2000 notes?

Banknotes in circulation are now 15.1 percent of money supply, compared to 13.7 percent in the September 2016 quarter

May 23, 2023 / 09:03 AM IST
Could rising currency in circulation be a reason for the withdrawal of Rs 2000 notes?

despite the sharp rise in digital transactions, banknotes in circulation have been going up as a proportion of money supply

There has been a lot of speculation about the reasons for the withdrawal from circulation of the Rs2000 currency notes. The Reserve Bank of India, however, has said that these notes were issued after demonetisation to meet the currency supply needs at that time. It has also said that these notes have reached the end of their life span. There is no mention of the move being aimed at unearthing black money. And now that it has been clarified that...

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