The country launched a probe in March 2021 into WhatsApp's privacy policy, which allowed data sharing with Facebook and its units, sparking global backlash
world3 days ago
The Reserve Bank of India extended the deadline on Saturday to exchange Rs2,000 note till October 7, reported PTI.
The RBI had earlier fixed September 30, 2023, as the last date for the purpose of completing the exercise in a time-bound manner and to provide adequate time to the public.
Earlier last month, the RBI said that about 93 per cent of the Rs2,000 banknotes have returned to the banking system since the central bank in May decided to withdraw the high-value note from circulation.
People were directed to exchange or deposit their Rs2,000 notes in bank branches and regional branches of RBI. A non-account holder could also exchange Rs2,000 banknotes up to a limit of Rs 20,000 at a time at any bank branch.
On May 19, the RBI decided to withdraw the Rs2,000 denomination banknotes from circulation but said it would continue to remain as legal tender. However, RBI had advised banks to stop issuing such banknotes with immediate effect.
The Rs2,000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs500 and Rs1,000 banknotes in circulation at that time.
The objective of introducing Rs2,000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs2,000 banknotes was stopped in 2018-19.
ALSO READ:
The country launched a probe in March 2021 into WhatsApp's privacy policy, which allowed data sharing with Facebook and its units, sparking global backlash
world3 days ago
This time around, Trump wants the Senate to give up that gatekeeping role and allow him to make 'recess appointments'
world3 days ago
Police allege the offences took place between 2001 and 2019 against 8 victims; the youngest was 17 at the time of the offence
world4 days ago
The two countries have a mutual defence treaty dating back to 1951, which could be invoked if either side came under attack, including in the South China Sea
world4 days ago
Nigerian President Bola Ahmed Tinubu conferred the Grand Commander of the Order of Niger on Narendra Modi in Abuja on Sunday
world4 days ago
The titleholder's winning answer focused on using each individual's strengths
world5 days ago
The suspects would be interrogated jointly with the Shin Bet internal security agency, police said
world5 days ago
The attack took place at the Wuxi Vocational Institute of Arts and Technology in Jiangsu province
world5 days ago