500 notes will increase further in the market! How will the cash flow be managed after the 2000 note is closed?

The Reserve Bank of India has completely stopped the printing of pink notes of 2000 rupees from 22 May. However, during this time all the notes which are in the market will continue to be used as legal tender.

The RBI governor tried to clear the confusion of the people by holding a press conference on Monday morning. RBI Governor Shaktikanta Das has made it clear that the 2000 notes which are present in the market will continue to be used as legal tender. At the same time, he did not give any clear answer on increasing the time limit for note exchange.

People had a valid question during the press conference that after the printing of 2000 note is stopped, will the note number of 500 rupees be increased? Let us know what he said in response to this question…

Will the currency of Rs 500 increase?

If the currency of Rs 2000 is banned, then the liquidity in the market will also decrease. In such a situation, it is being estimated that 500 rupee notes can increase in the market. When the RBI Governor was asked about this, he said that increasing the Rs 500 note depends on the demand of the public.

4 months time

At present, there is 30 September i.e. 4 months time to exchange the old 2000 notes. In such a situation, people should not panic. They can easily get the notes changed anytime in 4 months. There are indications from the words of the RBI governor that perhaps the deadline for changing the notes may go ahead. This can also be inferred from the fact that the RBI governor said that even after September 30, 2000 notes will continue to be used as legal tender.

The RBI governor said that extending the deadline can be considered only when till May 30 it will be seen how many notes are deposited in the bank. Only after this the extension of the deadline can be considered.