New Delhi: Some companies have asked their cashiers to not accept Rs 2,000 notes from customers amid rumours that the Reserve Bank of India may withdraw Rs 2,000 notes by the end of this year.
“…we hereby strictly instruct you to henceforth NOT TO ACCEPT Rs 2000 CURRENCY NOTES from the customers. If you have any of Rs 2000 currency Notes in your cash balance the same Notes needs to be deposited to the Bank immediately,” a Karnataka-based logistics firm has issued a guideline.
This circular is doing rounds on social media
However, it’s just a rumour which has been triggered by the recent comment of former Economic Affairs Secretary SC Garg. He has recently commented that the government might want to opt for the second round of demonetisation in which Rs 2,000 notes can be withdrawn without causing any disruptions.
Speculations have been rife whether the Central bank has any such plan as the number of Rs 2,000 notes in circulation has apparently become fewer.
However, fewer notes of Rs 2,000 can be attributed to large-scale hoarding as well, the former official said.
“A good chunk of Rs 2,000 notes are actually not in circulation, having been hoarded. The Rs 2000 note, therefore, is not presently working as a currency of transaction,” he said.
“A simple method, depositing these notes in the bank accounts (no counter replacement), can be used in managing the process,” the former bureaucrat said in a 72-page policy prescription for India to become $10 trillion by 2030