InvestorQ : Is it true that the Rs.2000 notes are being withdrawn from the Indian markets? Most ATMs have stopped giving out Rs.2000 notes.
prachi Patwardhan made post

Is it true that the Rs.2000 notes are being withdrawn from the Indian markets? Most ATMs have stopped giving out Rs.2000 notes.

Answer
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7 months ago


In the last few weeks, it has been observed that ATMs have reduced the dispensation of Rs.2000 notes. There have also been news items that banks have reduced giving out Rs.2000 notes to customers. However, the Finance Minister Nirmala Sitharaman has categorically confirmed that no such instructions have been given to banks on stopping issuing notes of Rs.2000 denomination. The minister rushed to clarify after there were press reports about ATM recalibration to phase out of Rs.2,000 notes. The expectation was that since Rs.2000 was introduced during demonetization, it would be eventually phased out once the purpose was served. While the government has denied any such move, the market is rife with rumours that the Rs.2000 note was likely to be phased out.