From jewelry shops to regular ration outlets, Rs 2000 notes have made a serious comeback within the Delhi market, simply two days after the Reserve Bank of India (RBI) introduced that the pink notes will now be withdrawn from circulation, set to be exchanged or deposited at your nearest banks.
Now, merchants throughout Delhi, who’ve simply gotten used to the recognition of UPI fee strategies, have seen a flood of Rs 2000 notes from clients within the final two days, even whereas making small purchases of simply Rs 100-200 through the day.
A dealer in Sarojini Nagar market stated that he hadn’t seen Rs 2000 foreign money notes in previous months however now each different particular person is bringing this foreign money be aware for getting items (“Itne time see (Rs) 2000 ke be aware nahi dekhe the, aur ab har dusra banda yehi be aware la rha hai”).
Even although RBI has allotted a considerable amount of time to all of the Rs 2000 be aware holders to get their foreign money notes exchanged or deposited of their financial institution accounts, individuals in Delhi appear to be in a rush to eliminate the notes. It have to be famous that the deadline to trade Rs 2000 notes is September 30, 2023.
Unlike the November 2016 shock of demonetisation, when previous Rs 500 and Rs 1,000 notes have been invalidated in a single day, the Rs 2,000 foreign money notes will proceed to be authorized tender.
“People are buying stuff of Rs 100 but are giving Rs 2000 notes. We got many complaints from traders yesterday that suddenly people coming with cash have increased. Till the day before yesterday, everybody wanted to do UPI and now suddenly they are bringing cash,” Sarojini Nagar mini market affiliation’s president Ashok Randhawa advised PTI.
To ease the panic within the minds of the individuals, the State Bank of India not too long ago issued a press release saying that an individual can trade notes with out ID proof or fill out a type, even when they don’t have a checking account in SBI.
(With PTI inputs)
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