Pointing out that there is enough supply of lower-denomination notes for exchange purposes even after the withdrawal of Rs 2,000 notes, Shaktikanta Das underlined that there is no reason to rush to banks.
The Indian rupee is expected to open weaker against the U.S. dollar after the central bank said it will withdraw the highest value currency note from circulation.
Nothing is ever going to be smooth when any half-arsed baked policies are introduced at whims and fancies. EoD it's the middle class who is going to suffer.
Already many retail outlets and petrol pumps have stopped accepting 2000 notes, not understanding why RBI announced this move, they should have simply informed banks with there internal communication to stop issuing 2000 notes to customers, however they have kept it as legal tender even after Sep 30th. So makes zero sense on announcement.
Between mom, sis and sis-in-low, we collectively lost around 10k. I am already beginning to think should expect atleast 20-30k loss due to notes being found in obscure places months/years after deadline.
P.S. my sister found a couple of notes as recently as 2020-21 while they cleaning up stuff - though one could argue as these should not count as no one can really expect a few years of window to exchange old notes.
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