RBI Governor Shashikanta Das on Monday while interacting with the media said the announcement of exchange of Rs 2,000 bank notes is part of RBI’s currency management. He further assured the people that there is no need to rush to make exchanges as there is a time frame of four months.
The Reserve Bank of India’s Governor further added that the notes were introduced to quickly replenish the earlier Rs 500 and Rs 1000 notes and the purpose of printing these notes has been fulfilled. He also assured the citizens that no new mechanism has been implemented to collect the Rs 2,000 notes. The procedure is the same as that of Bank deposits.
The RBI expects most of the notes that are currently circulating in the market to come back and any further decisions will be taken after it sees the amount of notes that have come back.