The High-Value Currency Will Coming Soon to Your Pocket: Rs. 2000

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2000 rupees note

The High-Value Currency Will Coming Soon to Your Pocket- 2000 Rupees Note

Soon you will insert your hand into our pocket to get 2000 Rupees note which will be in circulation now. The reports said Banknotes of the denomination of Rs 2000 will be available for transactions. We collect that The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency. So soon you will get this high-value currency from Banks.

The Reserve Bank of India has ensured that Rs 2000 notes will be in circulation soon. RBI has been in the process of introducing this high-value currency into circulation According to the article published by The Hindu Business Line “The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said. The notes have already been printed, and their dispatch from the currency printing press in Mysuru has commenced“. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued

Although there has been no official word on the introduction of new notes, neither the Government nor RBI has denied any such development either. In one side Rs. 2,000 notes would help RBI reduce costs. On another side, it may give rise to social problems like Black Money.

Let’s take a glance on positive and negative aspects

2000 rupees note

Positive Aspects:

Introducing Rs. 2000 notes by RBI, they will make your wallet lighter. Apart from that, India would save on costs associated with supplying currency notes. To print the Rs 1,000 note, the RBI shells out Rs 3. This reduces that costs. But there are no more benefits of issuing this high-value currency.

Negative Aspects:

Circulating this high-value currency notes not only gives rise to chances of black money formation but also exposes a country to the threat of fake currency. Recently many shopkeepers untrusting the Rs 500 note as there was a possibility of these being fake. Then think what would happen if counterfeit Rs 2,000 currency notes were in circulation. Whereas high denomination bank notes encourage high-value cash transactions, this also promotes under-the-table dealings.

The ShikshaBhaskar believes, the Government who pretended that the  are serious about curbing the black money circulation will understand the disadvantages of issuing high-denomination currency notes. We think that such high-denomination notes will only help the politicians who buy votes, shopkeepers and businessmen who create black money by selling goods for cash

Still, the question remains – How are 2000 rupees note going to help? Will it be justifiable?

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