BJP leader’s appeal to the High Court – ban on exchange of notes without document
New Delhi, 22 may 2023. The process of exchanging 2000 notes will start from Tuesday in all the banks of the country. Meanwhile, BJP leader and lawyer Ashwani Upadhyay has filed a PIL in the Delhi High Court against the Reserve Bank and State Bank’s order to exchange notes without documents. They have demanded not to allow exchange of 2000 notes without any identity proof.
Here, Reserve Bank of India (RBI) Governor Shaktikanta Das has said that people should not crowd banks to exchange notes. We have given 4 months time. Feel free to change notes, but take the time limit seriously. Das said, ‘Even after the deadline of September 30, 2000 notes will remain legal tender. On May 19, RBI had announced the closure of 2000 rupee notes. RBI has asked to exchange such notes in banks or deposit in accounts by 30 September.
Banks will keep account of notes daily, will take care of people
RBI issued another guideline on Monday. In this, the banks have been asked to arrange shady places and water for the people in view of the heat. Keep a daily account of how many notes have been exchanged and how many have been deposited.solve any problem that comes your way
Das said, ‘Whatever trouble comes, we will remove it. We will also monitor this process through banks. There is nothing to worry about. Under the currency management operation, we have started the work of removing 2000 notes from circulation.Earlier also people did not accept 2000 notes in the shop. It has probably increased after our announcement. We had said that it will remain a legal tender. You can make purchases with 2000 notes. By September 30, most of the notes will come to us and then we will decide.
ID is not required to exchange notes.
State Bank had issued a guideline on Sunday to change the 2000 note. India’s largest bank had said that no ID is required to exchange notes. No form will have to be filled. 10 notes can be changed at a time.State Bank issued the notification because different information was being given on social media regarding the exchange of notes. It was being said that an ID like Aadhaar would be necessary to exchange notes and a form would also have to be filled.
What did RBI Governor Shaktikanta Das say today, understand in question and answer…
1. Why are 2000 notes being removed?
Answer- This decision has been taken under currency management.
2. What will be the effect of the decision, 2000 notes will remain legal tender, what will be the effect on the economy?
Answer- 2000 notes will remain legal tender. The decision to remove it from circulation will have little effect on the economy. Only 10.8% of the total currency in circulation is in 2000 notes.
3. What is RBI’s appeal to the public?
Answer- People have time till 30th September. No need to panic. Notes can be exchanged at any bank. Do not rush to the banks to exchange notes, there is enough time. Most of the notes are expected to reach us by September 30. After September 30, it will be known how many notes have come and how many are in circulation.
4. What to do if people face problems?
Answer- Whatever problem comes, we will rectify it. We will also monitor this process through banks. There is nothing to worry about.
5. Are there any special rules for depositing notes?
We have not made any special arrangement to deposit 2000 note. These notes will also be deposited in the same way as you used to deposit notes in banks earlier. PAN will be necessary for depositing 2000 notes of more than 50 thousand. This arrangement was there earlier also.
6. What instructions were given to the banks?
Answer- A guideline has been issued for the banks. In this, the banks have been asked to arrange shady places and water for the people in view of the heat. Keep a daily account of how many notes were exchanged and how many were deposited.
7. Why were 2000 notes brought?
Answer- In 2016, 2000 notes were brought to compensate for the currency which was taken out of circulation during demonetisation. Since then, 2000 notes in circulation have decreased by 50%.
8. Will 1000 notes be brought back after taking 2000 notes out of circulation?
Answer- These are empty speculations. There is no such proposal as of now.
9. 2000 notes will be removed from the market, is there currency for replacement?
Answer- We have sufficient number of printed notes available. Not only RBI has enough notes, but other banks also have currency. It is not a troublesome thing. Stock of notes is plentiful.
