Only 10K Cr Worth of 2,000 Notes Remain in Circulation

New Delhi: Reserve BankGovernor Shaktikanta Das onFriday said Rs 2,000denomination notes are coming
back and only Rs 10,000 croreworth of such notes are stillwith people. He exudedconfidence that these notes will
also be returned or depositedback.”Rs 2,000 notes are comingcounters.On May 19, the ReserveBank of India (RBI) took thefinancial world by surprisewhen it declared its plan tophase out the Rs 2,000 note,which had been introduced in2016 as part of a rapidremonetisation effort.Canada suspendsin-personservices inConsulates in
Chandigarh,Mumbai & B’luruAmid diplomatic tensionsbetween India and Canada,Canada suspended inperson
services in its Consulates inChandigarh, Mumbai andBengaluru. “You can obtainconsular assistance and further
consular information from theHigh Commission of Canada inNew Delhi…Consular servicesin person remain available atthe High Commission ofCanada in New Delhi,” theCanadian government added.US issues worldwidecaution for itscitizensThe US State Department onThursday issued a worldwidesecurity alert for its citizensoverseas, citing increasedtensions in various locationsaround the world and thepotential for terrorist attacks
and violence against Americans.It advised US citizens overseasto exercise increased caution.US citizens should stay alert inlocations frequented bytourists, it added.Israel could see creditrating downgrade forthe 1st time, warnsMoody’sMoody’s has placed Israel’sA1 ratings on review for apossible downgrade amidongoing war against Hamas.”The severity of currentmilitary conflict raises thepossibility of longer lasting andmaterial credit impact,”Moody’s said. Israel has neverbeen downgraded by any of themain ratings agencies, including
Moody’s. Earlier, Fitch Ratingsplaced Israel’s credit score on anegative watch.Citi banker says ‘No
wonder Hitlerwanted Jews dead’amid Israel-Hamaswar, firedCitibank has fired a 25-yearoldbanker after she made a
“revolting antiSemiticcomment” amid Israel-Hamaswar. “No wonder why Hitlerwanted to get rid of all of
them,” Nozima Husainovawrote in response to a postabout Gaza hospital bombingthat was initially blamed on
Israel. “We condemnantiSemitism and…hate speechand don’t tolerate it in ourbank,” Citibank said.
back and only Rs 10,000 crore isleft in the system. Theexpectation is that the amountwill also come back,” he said on
the sidelines of the event here.Earlier this month, Das hadsaid 87 per cent of the Rs 2,000denomination notes being
withdrawn have returned asdeposits into banks while the resthas been exchanged across This had followed Prime Minister Narendra Modi’sannouncement to withdraw more than 88 per cent of thecurrency in circulation by invalidating the Rs 500 and Rs1,000 notes. Public and entities holding such notes wereinitially asked to either exchange or deposit them in bankaccounts by September 30. The last date was later extendedto October 7. On October 7, both deposit and exchangeservices at bank branches were discontinued. StartingOctober 8, individuals were provided with the choice of eitherexchanging the currency or having the equivalent sum
credited to their bank accounts at 19 Reserve Bank of Indialocations. Individuals or entities can exchange Rs 2,000 banknotes at the 19 RBI offices up to a limit of Rs 20,000 at a time.However, there is no limit on the total amount for getting Rs2,000 notes credited into bank accounts.

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