1. There will be no impact on liquidity in the wholesale market: RBI Governor Urjit Patel

There will be no impact on liquidity in the wholesale market: RBI Governor Urjit Patel

Following the ground breaking announcement of Prime Minister (PM) Narendra Modi, the Reserve Bank of India (RBI) governor Urjit Patel and Department of Economic Affairs (DEA) secretary Shaktikanta Das while addressing the press revealed the new Rs 500 note specimen to be printed by the RBI. Very soon the Rs 2000 note will be revealed.

By: | New Delhi | Published: November 8, 2016 10:25 PM
PM Modi, Modi, Modi Live, PM Modi Live to nation, Pm Modi quotes, PM Modi live today, PM Modi news, Modi speech, Modi Speech today, Latest news, news upadtes Rs 500, Rs 1000, notes abolished, Rs 500 notes abolished, Rs 1000 notes abolished, urjit patel, shaktikanta das As per media reports the new Rs 2000 notes will have a chipset embedded with nano-technology which will be helpful in tracking the notes.(Reuters)

Following the ground breaking announcement of Prime Minister (PM) Narendra Modi, the Reserve Bank of India (RBI) governor Urjit Patel and Department of Economic Affairs (DEA) secretary Shaktikanta Das while addressing the press revealed the new Rs 500 note specimen to be printed by the RBI. Very soon the Rs 2000 note will be revealed. “There will be no impact on the liquidity on the wholesale markets. If at all there is any, we’ll make sure that its addressed,” said RBI governor Urjit Patel.

As per media reports the new Rs 2000 notes will have a chipset embedded with nano-technology which will be helpful in tracking the notes. DEA secretary Shaktikanta Das said that all of these information will be shared with the income tax department. As per Das, the real value of Rs 1000 notes which was introduced 15 years back has declined, keeping in view that people will get a higher value currency note in exchange for a lower one will itself be a big boost to the.

It is also revealed that the RBI will keep a strict vigil and record of those coming to deposit the bank notes via CCTV and video footage. People can reach out to the finance ministry through a phone number which is 011-2309-2320. The number will be operational for 24 hours in the first 15 days.

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