Saturday 29 August 2020

Big news: 500 and 2000 notes: Check, RBI is also in tension

Many things have been damaged during the Corona period (Covid-19). Whether it’s business, transportation, employment or anything else. People also sanitized Noto for fear of infection. This has resulted in a large number of currencies being corrupted by sanitizing, washing and sunbathing notes.

This is the reason why the number of bad notes reaching the Reserve Bank of India (RBI) has broken all records till date. A maximum of two thousand rupee notes have been damaged. This time, more than Rs 17 crore notes of Rs 2,000 were received by the RBI. Apart from this, two hundred, five hundred, 10 and 20 rupee notes were also very bad.

According to an RBI report, Rs 17 crore worth Rs 2,000 was wasted this year. This number is 300 times higher than last year. People have started washing, sanitizing and drying the notes since the news of corona infection surfaced some time ago. Banks are also spraying sanitizers on rupee coins. As a result, the old notes have been discarded and the new notes have also gone bad in a year.

Corona had such an effect on the note
Last year, 6 lakh notes of 2000 went bad. This time the number has crossed 17 crore. The new 500 notes went ten times worse. 200 notes have become 300 times more useless than last year. The new currency of the twenty has depreciated more than twenty times in a year.

Find out how many bad notes came in which year
If we talk about the year 2017-18, at that time 2 lakh one lakh notes came to the RBI. At the same time, this number increased to 6 lakh in 2018-19. This year, this number has broken all records. In the year 2019-20, Rs 17.68 crore notes of Rs 2,000 were received by the RBI. Similarly, if we have 500 notes, 1 lakh in 2017-18, 1.54 crore in 2018-19 and 16.45 crore in 2019-20. Let us know that every year RBI has the highest number of 10, 20 and 50 bad notes. The 500 and 2000 notes have set a new record this year.

The 2019-20 annual report released by the RBI has revealed that the trend of Rs 200 and Rs 500 notes is increasing rapidly. In the year 2018, Rs. 37,053 crore notes worth Rs. 18,526 lakh 200 were in circulation in the market. In the year 2019, Rs. 80,010 crore notes worth Rs. 40,005 lakh 200 were in circulation. As on March 2020, 53,646 lakh 200 notes worth Rs 1,07,293 crore are in circulation

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