Will RBI ban the 500 rupee note? Know the update

New Delhi: The central government may take another significant decision to curb corruption and counterfeit currency. Following the central government’s instructions, the RBI is expected to withdraw the 500-rupee note from circulation soon. If this happens, then the corrupt people who circulate fake 500 notes will be curbed.

The aim of the Modi government at the centre is to promote digital transactions, keeping this in mind, this big decision can be taken. It is expected that the government can increase the production of 100- and 200-note denominations. Anyway, now the demand to ban the 500 note has started rising. Discussions are also going on at the high level regarding its ban. However, the RBI has not officially announced anything about banning the 500 note. Such claims are being reported in the media.

RBI’s focus on 100 and 200 notes

The Reserve Bank of India made a shocking announcement. RBI had asked all banks and white-label ATM operators to keep 100 and 00 rupee notes in their ATMs. It was announced that 75 per cent of the country’s ATMs will have 10-rupee and 200-rupee notes by September 30. The RBI aims to reduce the circulation of 500-rupee notes. Anyway, the demand to ban this note has increased rapidly.

Demand to ban the note

Andhra Pradesh Chief Minister Chandrababu Naidu had demanded a ban on the 500-rupee note a few days ago. The Naidu government has demanded the introduction of a digital currency. Now everyone’s eyes are on what decision the central government takes. It is said that banning the 500 note will promote digital payment.

By the way, a large population in India now makes digital payments. While shopping at malls, markets, and other showrooms, people are finding it safe to pay through Google Pay, PhonePe, and Paytm. Second

100 and 200 rupee notes are getting a boost

RBI has taken this decision to provide the general public in India with better access to the notes in use. All banks and white-label ATM operators will ensure that their ATMs can regularly dispense 100- and 200-rupee notes. Work is also going on to implement the RBI’s decision.