Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) on Monday said 97.96 % of the <keyword id="6429211" type="General" weightage="20" keywordseo="rs-2" source="Orion">Rs 2</keyword>,000 denomination <keyword id="20481528" type="General" weightage="20" keywordseo="banknotes" source="keywords">banknotes</keyword> have returned to the banking system, and only Rs 7,261 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2,000 denomination banknotes from circulation. The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 7,261 crore at the close of business on August 30, 2024, the RBI said. "Thus, 97.96 % of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned," it said in a statement. The facility for deposit and/or exchange of the Rs 2,000 banknotes was available at all bank branches in the country till October 7, 2023. The facility for the exchange of the Rs 2,000 banknotes has been available at the 19 issue offices of the <keyword id="19922074" type="General" weightage="20" keywordseo="reserve-bank" source="keywords">Reserve Bank</keyword> since May 19, 2023. From October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts. Further, members of the public are sending Rs 2,000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts. The 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram. Rs 2000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 banknotes. However, even after their discontinuation, Rs 2,000 notes continue to remain legal tender. Per the apex bank's last update, which came out on August 1st, 2024, Rs 2,000 banknotes had declined to Rs 7409 crore at the close of business on July 31, 2024. Thus, by last month, 97.92% of the Rs 2,000 banknotes which were in circulation as on May 19, 2023, had been returned.

Rs 2,000 notes: 97.96% returned; Rs 7,261 crore worth notes still with public

About 2.1 per cent or Rs 7,581 crore of the withdrawn Rs 2,000 <keyword id="20481528" type="General" weightage="20" keywordseo="banknotes" source="keywords">banknotes</keyword> have not yet been returned to the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>, about nine months after the deadline to deposit or exchange them at bank branches was over. This essentially means 97.87 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of June 2024, the Reserve Bank of India said in a statement on Monday. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. The last day for the public to avail of exchange or to deposit high-value Rs 2000 banknotes at the banks was October 7, 2023. However, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI. Those 19 RBI issue offices are in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. People from within the country can send Rs 2,000 banknotes through India Post from any post office to any of RBI Issue Offices for credit to their bank accounts in India. The Rs 2000 banknotes continue to be legal tender. The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the <keyword id="19901049" type="General" weightage="20" keywordseo="withdrawal" source="keywords">withdrawal</keyword> of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped in 2018-19. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

The ethnic group with the highest concentration of professional workers in the UK is Indian and considering <keyword id="21981222" type="General" weightage="20" keywordseo="ethnic-minorities" source="keywords">ethnic minorities</keyword> as a monolithic group for public policy purposes is now increasingly meaningless in the country, a new think-tank analysis concludes on Monday. 'A Portrait of Modern Britain: Ethnicity and Religion' published by the <keyword id="23544970" type="General" weightage="20" keywordseo="Policy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Policy Exchange" meta.hostid="261" meta.entityid="Policy Exchange">Policy Exchange</keyword> reflects an in-depth examination of the demographic, educational, health and economic situation of different ethnic groups in the country. The report calls for a new government-led <keyword id="23544966" type="General" weightage="20" keywordseo="national-integration-strategy" source="keywords">national integration strategy</keyword>, with children in Britain taught to be proud of their national heritage in an inclusive manner that reflects the country's history and traditions. "The ethnic group with the highest concentration of professional workers was Indian - with British Indians also having the highest rate of home ownership - with 71 per cent living in a property which is either owned outright or owned with a mortgage/loan or shared ownership," the report notes. "The diversity contained with the term 'ethnic minority' is now so broad - both within each minority and between minorities - that considering ethnic minorities as a monolithic group for public policy purposes is now increasingly meaningless," it states. "Categories such as 'South Asian' do not only serve to mask over noteworthy economic and social disparities between Britain's Indians, Pakistanis, and Bangladeshis - but also mean that very real forms of diversity within these sizeable groupings at times go unrecognised," it cautions. The report analyses the <keyword id="23544967" type="General" weightage="20" keywordseo="2021-UK-Census" source="keywords">2021 UK Census</keyword> data and other statistical resources, combining this with polling conducted by Redfield and Wilton. Besides a nationally representative sample of 2,000 people of all ethnicities, "booster" samples were used of 1,400 ethnic minority respondents - 200 each from the Black African, Black Caribbean, Indian, Pakistani, Bangladeshi, Chinese and Mixed-Race ethnic groups. "These days, integration won't happen naturally... Recent years have seen conflicts generated far away from our shores break out on our streets. The politics of the Indian sub-continent and the Middle East for example are no longer 'quarrels in a faraway country between people of whom we know nothing'," Sir Trevor Phillips, senior fellow at Policy Exchange, says in his foreword. "Policy Exchange's portrait of our nation teaches us one thing above all: our future rests on managing our diversity, and complacency is the surest pathway to the growth of extremism and conflict," he concludes. Among the key findings of the analysis was that almost three in four people - 72 per cent of those polled - believe that children should be taught to be proud of <keyword id="23544969" type="General" weightage="20" keywordseo="British-history" source="keywords">British history</keyword>, with a majority also believing that Britain has historically been a force for good in the world. "Government agencies should also commit to disaggregating larger groups which are both ethnically and religiously diverse, as well as being far from homogeneous in terms of migratory background - especially the Indian and Black African ethnic categories," it recommends. The think-tank points out that the first 'Portrait of Modern Britain' was carried out for Policy Exchange in 2014 by two young researchers including one named <keyword id="19906889" type="General" weightage="20" keywordseo="Rishi-Sunak" source="keywords">Rishi Sunak</keyword>, who would go on to become the UK's first Prime Minister of Indian heritage and is currently the interim Opposition Leader in Parliament. The new project aims to identify how governments can successfully focus on what unites the different ethnicities of the country to build on the latent strengths of an integrated British identity and culture.

Indians have highest concentration of professionals among ethnic groups in the UK: Report

<ul><li>The <keyword id="6358156" type="General" weightage="20" keywordseo="central-bank" source="Orion">central bank</keyword> has announced the withdrawal of ₹2,000 notes from circulation.</li><li>The RBI has given time till September 30, 2023 for people to deposit or exchange their ₹2,000 notes.</li><li>Here’s everything you need to know about the withdrawal of the ₹2,000 notes and whether you can still use them.</li></ul> The Reserve Bank of India (RBI) last week<a href="https://www.businessinsider.in/finance/news/rbi-to-withdraw-2000-currency-notes-from-circulation-will-continue-to-be-legal-tender/articleshow/100360976.cms"> announced</a> that it is withdrawing the ₹2,000 notes from circulation. However, unlike during the 2016 demonetisation, the central bank has provided ample time to get the notes exchanged. The news of the withdrawal of the notes is generating a lot of misinformation that is being spread on social media platforms and messaging applications. In this article, we help dispel some of these misconceptions and tell you how you can exchange your ₹2,000 notes. <cmsannotation type="cmsannotation" annotationid="Can you still use ₹2,000 notes?" comment="subhead" text="Can you still use ₹2,000 notes?">Can you still use ₹2,000 notes?</cmsannotation> The central bank has stated that the ₹2,000 notes will continue to be legal tender even after September 30, 2023. At the moment, there is no information from the government about when the notes will lose their legal tender status. According to a Business Standard report, the ₹2,000 notes may lose the legal tender status around the end of the year as the central government wishes to avoid the inconvenience caused during the 2016 demonetisation, when the legal tender status of ₹500 and ₹1,000 value notes was ended immediately. Extending the legal tender status of ₹2,000 notes beyond September will give ample time to people staying abroad and the country’s missions to deposit any high-value notes they may have, with banks. The report states that a notification withdrawing the legal tender status of the ₹2,000 notes may be released after September 2023. <cmsannotation type="cmsannotation" annotationid="How to exchange ₹2,000 notes" comment="subhead" text="How to exchange ₹2,000 notes">How to exchange ₹2,000 notes</cmsannotation> There are two ways you can get rid of your ₹2,000 notes, besides spending them. <cmsannotation type="cmsannotation" annotationid="Deposit into your accounts" comment="subhead" text="Deposit into your accounts">Deposit into your accounts</cmsannotation> The easiest way is to deposit the ₹2,000 notes into your bank account. You can deposit ₹2,000 notes without any limit in your bank accounts, subject to the existing know-your-customer (KYC) norms. <cmsannotation type="cmsannotation" annotationid="Exchange at any bank" comment="subhead" text="Exchange at any bank">Exchange at any bank</cmsannotation> If you do not wish to deposit the ₹2,000 notes, you can also get them exchanged at any bank for notes of smaller denominations. However, unlike deposits, there is a daily limit on the amount that can be exchanged, to avoid disruption of regular banking services. You can exchange up to ₹20,000 per day, which equals to ten notes of ₹2,000. <cmsannotation type="cmsannotation" annotationid="How to exchange your ₹2,000 note" comment="subhead" text="How to exchange your ₹2,000 note">How to exchange your ₹2,000 note</cmsannotation> To exchange your ₹2,000 note, all you have to do is take these notes to your nearest bank between May 23 and September 30, 2023. You can exchange ₹2,000 notes at any bank, even if you do not have an account at that bank. <cmsannotation type="cmsannotation" annotationid="Do you need any ID or documents to exchange ₹2,000 notes?" comment="subhead" text="Do you need any ID or documents to exchange ₹2,000 notes?">Do you need any ID or documents to exchange ₹2,000 notes?</cmsannotation> Amid online reports that you will need an identity proof to exchange your ₹2,000 notes, the State Bank of India (SBI) has clarified that people will not have to carry or show an identity proof to exchange their ₹2,000 notes at banks. This also means that one person will be able to make multiple exchanges on the same day at different banks, despite the ₹20,000 limit. <cmsannotation type="cmsannotation" annotationid="PIL filed challenging exchange without identity proof" comment="subhead" text="PIL filed challenging exchange without identity proof">PIL filed challenging exchange without identity proof</cmsannotation> BJP leader and advocate Ashwini Kumar Upadhyay has <a href="https://www.businessinsider.in/india/news/pil-filed-against-rbi-sbi-notifications-permitting-rs-2000-note-exchange-without-id-proof/articleshow/100411563.cms">filed</a> a public interest litigation (PIL) in the Delhi High Court challenging the RBI and SBI notifications that allow people to exchange their ₹2,000 notes without having to present an identity proof. Upadhyay’s plea calls the decision arbitrary and irrational, and says it offends Article 14 of the Constitution of India, and is hence, inoperative. Further, Upadhyay has sought directions for RBI and SBI to ensure that ₹2,000 notes are deposited in respective bank accounts only so that no one can deposit black money into others accounts. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/battlegrounds-mobile-india-to-return-soon-company-receives-permission-from-government/articleshow/100346259.cms">Battlegrounds Mobile India is relaunching soon, but government says final call only after a 3-month trial</a> <a href="https://www.businessinsider.in/business/auto/news/electric-scooters-and-bikes-may-get-costlier-as-government-looks-to-revamp-the-fame-ii-scheme/articleshow/100321089.cms">Electric two wheelers may get costlier as government looks to revamp the FAME-II scheme</a> <a href="https://www.businessinsider.in/tech/news/how-to-find-phone-numbers-registered-in-your-name-and-block-those-that-arent-yours/articleshow/100297548.cms">How to find phone numbers registered in your name and block those that aren’t yours</a>

₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered

<ul><li>About ₹1.8 lakh crore of ₹2,000 banknotes have come back, said RBI governor <keyword id="6359111" type="General" weightage="80" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> on Thursday. </li><li>Broadly about 85% of the ₹2,000 banknotes are coming back as bank deposits, he added. </li><li>The average system liquidity is in surplus mode and could increase as ₹2,000 banknotes get deposited in the banks, Das said. </li></ul>Half of India’s ₹2,000 bank notes in circulation are now with banks, said <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) on Thursday. The RBI withdrew <a href="https://www.businessinsider.in/finance/news/rbi-to-withdraw-2000-currency-notes-from-circulation-will-continue-to-be-legal-tender/articleshow/100360976.cms">these banknotes on May 19</a> but unlike the demonetisation of ₹500 and ₹1,000 notes earlier, they continue to remain legal tender, and can be exchanged or deposited at banks till September 30. According to RBI, ₹3.62 lakh crore of ₹2000 banknotes were in circulation as of March 31. “After the announcement, about ₹1.8 lakh crore of ₹2,000 banknotes have come back. This is roughly about 50% of the ₹2,000 banknotes, which were in circulation on 31st March...so 50% of the banknotes have come back,” said Shaktikanta Das, the governor of RBI speaking to reporters <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> decision announcement, where the repo rate has been <a href="https://www.businessinsider.in/finance/news/rbi-mpc-holds-interest-rate-as-expected-but-stance-maintained-at-withdrawal-of-accommodation/articleshow/100839034.cms">kept unchanged at 6.5%</a>. Das also added that they are still working out as to how much of the ₹2,000 notes has come in as deposits and how much of it was exchanged for other bank notes. “That figure needs reconciling but broadly on a provisional basis about 85% are coming back as deposits into bank accounts,” Das said. Boost for banks Das mentioned in his speech that the note withdrawal could aid deposits. “The average system liquidity, however, is still in surplus mode and could increase as ₹2,000 banknotes get deposited in the banks,” he said. A <keyword id="152996" type="General" weightage="50" keywordseo="kotak-institutional-equities" source="Orion">Kotak Institutional Equities</keyword> report meanwhile said that it expects as much as ₹1.5-2 lakh crore to make its <a href="https://www.businessinsider.in/finance/news/bank-deposits-gold-sales-real-estate-to-get-a-boost-with-2000-note-withdrawal-kotak/articleshow/100429411.cms">way into banks as deposit</a>s, both directly and indirectly. Reports have said that most people are attempting to spend the notes as well by <a href="https://www.businessinsider.in/finance/news/bank-deposits-gold-sales-real-estate-to-get-a-boost-with-2000-note-withdrawal-kotak/articleshow/100429411.cms">purchasing gold, consumer goods</a> and more – which too is expected to make its way to the banks. “Durable liquidity could increase by around ₹1 lakh crore depending on the behaviour of depositors. This should ease the credit-deposit ratio across banks,” said a report by Kotak Institutional Equities released in May. About 64% of the LocalCircles survey respondents said that they do not hold notes in the said denomination. While 6% indicated that they have ₹1 lakh or more in ₹2,000 rupee notes. Moreover, 15% said that they have up to ₹20,000 rupees – which can be exchanged at banks with no hassle.

Half of India’s ₹2,000 notes are back with banks within a month of withdrawal announcement

<ul><li>Exchange your Rs. 2000 notes with <keyword id="4009819" type="General" weightage="80" keywordseo="amazon-pay" source="Orion">Amazon Pay</keyword> during your next COD order.</li><li>You can exchange up to Rs. 50,000 worth of Rs. 2000 notes per month with <keyword id="18635" type="General" weightage="100" keywordseo="amazon" source="Orion">Amazon</keyword> Pay.</li><li>Here’s how you can do it.</li></ul>Exchanging the soon to be defunct Rs 2,000 notes one processes can be a hassle amidst one’s daily packed hustle and bustle. Now, Amazon has made an announcement regarding this to help with the process. The decision follows the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s decision on May 19 to withdraw all Rs. 2,000 currency notes from circulation as part of its Clean Note Policy. The central bank of India has provided a window until September 30 for individuals to deposit or exchange their existing notes. Given the challenges faced by many individuals in exchanging or depositing their notes at banks, Amazon has introduced an initiative to facilitate the process for its customers. According to Amazon's official statement, customers will now have the option to use their Rs. 2,000 notes for topping up their Amazon Pay balances during cash-on-delivery orders. Any remaining change will be loaded into their Amazon Pay wallet. To ensure a smooth process, Amazon has set a maximum limit of Rs. 50,000 per month that customers can deposit, which includes notes of the Rs. 2,000 denomination. This initiative aims to provide convenience and flexibility to customers who are seeking to convert their Rs. 2,000 notes into a digital form. Here’s how to exchange Rs. 2,000 note using the Amazon Pay wallet. <ul><li>Customers are required to initiate the video KYC process on the Amazon app.</li><li>After successfully completing the KYC, customers can proceed to place a cash on delivery order.</li><li>During the delivery, customers can provide the cash payment to the delivery agent.</li><li>The delivery agent will promptly update the customer's Amazon Pay balance with the remaining amount.</li></ul>The updated balance in the Amazon Pay wallet can be utilized for various purposes such as online shopping, QR code payments, recharging services, sending money to friends and family, as well as making digital payments on applications like Swiggy and Zomato. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/if-you-are-a-google-one-subscriber-you-can-now-access-portrait-blur-colour-pop-and-more-advanced-editing-tools-on-photos-web/articleshow/101009287.cms">If you are a Google One subscriber, you can now access Portrait Blur, Colour Pop and more advanced editing tools on Photos web</a> <a href="https://www.businessinsider.in/tech/news/google-bard-cool-things-you-can-do-with-the-ai-chatbot/articleshow/101012445.cms">Google Bard: Cool things you can do with the AI chatbot</a>

You need not visit a bank to exchange your Rs 2,000 notes – Here’s how Amazon can help you

Mumbai, The Reserve Bank on Friday said that as much as 93 per cent of Rs 2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks. According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023, it said in a statement. "Consequently, Rs 2000 banknotes in circulation as at the close of business on August 31, 2023 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned," it said. Data collected from major banks indicates that out of the total banknotes in Rs 2000 denomination received back from circulation, about 87 per cent is in the form of deposits and the remaining around 13 per cent has been exchanged into other denomination banknotes. The <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> had announced the withdrawal of Rs 2000 banknotes from circulation on May 19, 2023.. The total value of Rs 2000 banknotes in circulation, which amounted to Rs 3.62 lakh crore on March 31, 2023, had declined to Rs 3.56 lakh crore as at the close of business on May 19, 2023. RBI requested the members of the public holding the high-value banknote to utilise the remaining period until September 30, 2023, to deposit and/or exchange them.

RBI says 93% of ₹2000 notes returned to banks

<keyword id="20459350" type="General" weightage="100" keywordseo="Indian-stock-markets" source="keywords">Indian stock markets</keyword> are experiencing robust growth as the number of <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword> rapidly increases. However, despite this surge, the number of active participants remains relatively low compared to the total registered users, though it has been rising steadily since March. According to a report by the National Stock Exchange (NSE), out of the 9.7 crore <keyword id="22721559" type="General" weightage="20" keywordseo="registered-investors" source="keywords">registered investors</keyword>, only 1.5 crore are active. The report highlights that active investors on the NSE surged by 13.9 % month-on-month, reaching 1.5 crore in June. This marks the third consecutive month of growth in active market users. The NSE report shows that the number of individuals trading at least once a month grew by 13.1% in June, compared to May, reflecting a strong trend in <keyword id="21427519" type="General" weightage="20" keywordseo="market-participation" source="keywords">market participation</keyword>. "The number of individual investors who traded at least once in June increased across regions. This individual investor base rose by 13.9 % month-on-month to reach 1.5 crore in June 2024," the report noted. It also points out that there has been a steady rise in active domestic investors after a decline earlier in the year, particularly in March. As of June, the number of active domestic market investors on the NSE from the top 10 states--Maharashtra, Gujarat, <keyword id="19894922" type="General" weightage="20" keywordseo="uttar-pradesh" source="keywords">Uttar Pradesh</keyword>, West Bengal, Rajasthan, Karnataka, Delhi, Tamil Nadu, Madhya Pradesh, and Haryana--stood at 1.2 crore. Maharashtra led the increase in June, significantly contributing to the new and active investor base in the stock markets. "Following a decline in March 2024, the count of individuals who traded at least once has been on a steady rise, increasing by 13.1% month-on-month to 1.2 crore for the top 10 states in June 2024," the NSE report stated. The report also noted a year-on-year growth in the number of registered investors. The total number of registered users reached 9.7 crore at the end of June, up from approximately 7.6 crore the previous year. "The total number of registered investors stood at 9.7 crore at the end of June, up from around 7.6 crore at the same time last year," the report added. Region-wise, Southern and Eastern India saw significant increases, with active investor bases rising by 16.8 % month-on-month to 29.1 lakh and 15.6 % month-on-month to 16.7 lakh, respectively. The Northern and Western regions also experienced growth, with investor bases reaching 55 lakh and 56 lakh, respectively, in June 2024. <h2>Nifty on the rise</h2>The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index began on April 22, 1996, with a starting value of 1136.28 points and has recently crossed 25,000 points, marking a growth of nearly 22 times. In less than four years from its inception, the index climbed to 1592.90 points, showcasing early signs of its potential. By December 2, 2004, just before the start of 2005, the Nifty 50 achieved a historic milestone by crossing the 2000-point mark, setting the stage for further growth amid challenges. The global financial crisis of 2008 tested the resilience of the Indian stock market. At the start of the year, the Nifty 50 was trading around 6,300 points, but by the end of 2008, it had plummeted to 2,500 points, reflecting the global economic turmoil. Despite this setback, India's <keyword id="20172097" type="General" weightage="20" keywordseo="financial-sector" source="keywords">financial sector</keyword> demonstrated remarkable strength. By December 31, 2009, less than a year after the crisis, the Nifty 50 had rebounded to 5,200 points. In September 2010, the Nifty index again reached the 6,000-point mark after a gap of over two years, marking a significant recovery. As 2014 began, the index was around 6,300 points, but by the end of the year, it had surged past 8,000 points, fuelled by optimism surrounding the new single-party majority government at the centre. A major milestone was achieved on July 25, 2017, when the Nifty 50 hit the 10,000-point mark, coinciding with the implementation of the Goods and Services Tax (GST), a landmark reform in the Indian indirect tax structure. The market faced another significant challenge with the onset of the COVID-19 pandemic in early 2020. The Nifty 50, which had been trading around 12,000 points in January 2020, fell dramatically to about 7,500 points by March 2020. This sharp decline was one of the most significant losses for the index in a short span. Nevertheless, the resilience of the Indian stock market was evident, as the Nifty 50 began its recovery as the pandemic subsided. The recovery was swift and robust. By 2021, the Nifty 50 surpassed the 15,000-point mark, and the rally continued unabated. On August 1, 2024, the index achieved a new milestone, reaching 25,000 points. The Nifty 50 hit the 20,000-point mark for the first time on September 11, 2023, and took 221 trading days from that level to reach 25,000 points on August 1, 2024. This journey from the early days of 1136.28 points to the recent milestone of 25,000 points underscores the evolution of the Indian financial sector and its integral role in the country's economic development. Commenting on the Nifty's journey, Ajay Bagga, Banking and Market Expert, stated that "the journey of the Nifty reflects the growth of the Indian economy and various sectors. When the Nifty was created in the mid-1990s, the top companies were very different, from very different sectors. In these three years, IT, Pharma, Real Estate, Autoancillaries, and Telecom have emerged as new sectors with significant shares in the Nifty market cap. Going ahead, in the decades to come, there will again be a sectoral rotation as e-commerce, artificial intelligence, fintech and health tech companies rise to prominence."

Markets hit new milestones, robust surge in active traders as investor numbers soar

Mumbai, The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>) on Friday said nearly 97.62 per cent of the Rs 2,000 bank notes have returned to the banking system, and only about Rs 8,470 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2,000 denomination bank notes from circulation. "The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8,470 crore at the close of business on February 29, 2024," the RBI said in a statement. Thus, 97.62 per cent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have since been returned, it added. "The Rs 2,000 banknotes continue to be legal tender," the RBI added. People can deposit and/or exchange Rs 2,000 bank notes at the 19 RBI offices across the country. People can also send Rs 2,000 bank notes through <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Post from any post office to any of the <keyword id="20026757" type="General" weightage="20" keywordseo="rbi-issue-offices" source="keywords">RBI Issue Offices</keyword> for credit to their bank accounts in India. Public and entities holding such notes were initially asked to either exchange or deposit them in bank accounts by September 30, 2023. The deadline was later extended to October 7, 2023. Deposit and exchange services at bank branches were discontinued on October 7, 2023. Starting October 8, 2023, individuals have been provided with the choice of either exchanging the currency or having the equivalent sum credited to their bank accounts at the 19 offices of the RBI. The 19 RBI offices depositing/exchanging the bank notes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, <keyword id="20790999" type="General" weightage="20" keywordseo="patna-and-thiruvananthapuram" source="keywords">Patna and Thiruvananthapuram</keyword>. The Rs 2,000 bank notes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 bank notes.

As much as ₹8,470 crore worth ₹2,000 notes still with public: RBI

<ul><li>RBI announced the withdrawal of ₹2,000 currency notes from circulation on Friday.</li><li>People possessing these notes can deposit them in their bank accounts or exchange them from May 23 to September 30.</li><li>The RBI has also advised banks to stop issuing ₹2,000 denomination banknotes with immediate effect. </li></ul>The Reserve Bank of India (RBI) on Friday announced the withdrawal of ₹2,000 currency notes from circulation, but said that they will continue to be legal tender. People possessing these notes can deposit them in their bank accounts or get them exchanged from May 23 to September 30, the central bank said in a statement. “In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹2000 banknotes into banknotes of other denominations can be made upto a limit of ₹20,000/- at a time at any bank starting from May 23, 2023,” the statement said. The RBI has also advised banks to stop issuing ₹2,000 denomination banknotes with immediate effect. About 89% of the ₹2,000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. The total value of these banknotes in circulation has declined from ₹6.73 lakh crore at its peak as on March 31, 2018 (37.3% of notes in circulation) to ₹3.62 lakh crore constituting only 10.8% of notes in circulation as on March 31, 2023. “It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public. In view of the above, and in pursuance of the ‘Clean Note Policy’ of the RBI, it has been decided to withdraw the ₹2,000 denomination banknotes from circulation,” RBI said. The facility for exchange of ₹2,000 banknotes upto the limit of ₹20,000/- at a time shall also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments from May 23, 2023. "As witnessed during demonetisation, we expect the deposit accretion of banks could improve marginally in near term. This will ease the pressure on deposit rates hikes and could also result in moderation in short-term interest rates," said Karthik Srinivasan, senior VP, group head - financial sector ratings, ICRA. It may be noted that RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014. The ₹2,000 notes were introduced in 2017, after the government of India went in for <keyword id="6362150" type="General" weightage="20" keywordseo="demonetization" source="Orion">demonetization</keyword> of ₹500 and ₹1,000 notes in November 2016. Prime Minister Narendra Modi announced this decision in a surprise speech that shocked the nation. He said that the move would curtail the shadow economy and encourage cashless transactions.

RBI to withdraw ₹2,000 currency notes from circulation, will continue to be legal tender

<ul><li>There is no reason to rush to banks, there is time for four months, Das said on Monday. </li><li>Will be sensitive to the difficulties faced by people and it’s our endeavour to address the difficulties of people, Das said.</li><li>A PIL has been filed in the Delhi HC against RBI and SBI notifications that permit the exchange of ₹2,000 banknotes without obtaining ID proof.</li></ul> The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday allayed fears regarding the central bank’s decision to pull ₹2,000 banknotes out of circulation. Calling its decision, announced on late Friday, a currency management operation of the RBI,<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-governor-shaktikanta-das-answers-questions-on-rs-2000-note-withdrawal/articleshow/100411073.cms"> Das said he does not see people</a> rushing to banks to exchange or deposit these notes. “There is no reason to rush to banks. There is time for four months," Das said, speaking in New Delhi. On Friday, RBI said in a statement that ₹2,000 banknotes will continue to be legal tender. People possessing these notes can deposit them in their bank accounts or get them exchanged from May 23 to September 30, the central bank had said. In its statement, the RBI also advised banks to stop issuing ₹2,000-denomination banknotes with immediate effect. About 89% of the ₹2,000-denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. Das also said that the RBI had stopped printing these denominations. Regarding a possible extension to the September 30 deadline, he said that the central bank will take a call after assessing how much of these banknotes come back to the banks. "We assure people who are abroad and within India, we will be sensitive to the difficulties you may face. It will be our endeavour to address the difficulties of people," Das said. The total value of these bank<keyword id="4276824" type="General" weightage="20" keywordseo="notes-in-circulation" source="Orion">notes in circulation</keyword> has declined from ₹6.73 lakh crore at its peak as on March 31, 2018 (37.3% of notes in circulation) to ₹3.62 lakh crore, constituting only 10.8% of notes in circulation as on March 31, 2023. “It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public. In view of the above, and in pursuance of the ‘Clean Note Policy’ of the RBI, it has been decided to withdraw the ₹2,000 denomination banknotes from circulation,” RBI said in its statement. In the meanwhile, a public interest litigation has been filed in the Delhi High Court against RBI and State Bank of India notifications that permit the exchange of ₹2,000 banknotes without obtaining identity proof.

No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation

New Delhi [India], May 24 (ANI): Indian stock indices closed Friday's trade on a steady note and closed this week on a flyer, defying the latest slump in global markets. <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closed 8 points lower at 75,410 points, and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> closed 11 points lower at 22,957 points, both staying around their all-time highs experienced in the previous session. By creating an unprecedented wealth of USD 1 trillion in just 6 months, both indices of the Indian <keyword id="6357440" type="General" weightage="100" keywordseo="stock-market" source="Orion">stock market</keyword> BSE and NSE have joined the exclusive USD 5 trillion club, defying the FII (Foreign Institutional Investors) pullout before the outcome of the Lok Sabha election on June 4. Data shows this leg of the bull run is fuelled by domestic institutional, retail and HNI (High Net worth Individuals) investors as FIIs have pulled out at least Rs 28,000 crore from the market this month. Market experts say, assuming market returns are in line with the last 10 to 20 years, and with the expectation of India becoming the third-largest economy by 2027, the <keyword id="19932516" type="General" weightage="20" keywordseo="market-cap" source="keywords">market cap</keyword> of BSE and NSE is expected to reach USD 10 trillion by 2030. The consistent bull run in Indian stock indices - Sensex and Nifty -- continued and touched fresh highs on Thursday, reacting to Prime Minister Narendra Modi's assertion that the BJP-led alliance is on track to form the government for a record third term. The prime minister also predicted that the margin of victory would be even broader. Barring a little volatility, Indian stock indices have been firm over the past several sessions, supported by strong support from a majority of sectoral indices. With the five phases of elections now behind us, it is widely expected by investors that the Narendra Modi-led government will come back to office with a comfortable margin for his third term. This also likely triggered fresh stock buying. Softer-than-expected US consumer inflation in April a consistent moderation in inflation in India and the sooner-than-normal arrival of the southwest monsoon in India, as predicted by IMD, mainly buoyed Indian stocks lately. The southwest monsoon is likely to hit Kerala on May 31, a day before the usual normal date of June 1. Last week, Sensex jumped about 2,000 points, on a cumulative basis. During Tuesday-Friday this week, Sensex jumped about 1,500 points. On Monday, i.e., yesterday, the stock exchanges were shut for General Elections in Mumbai. "Global market sentiments remained subdued as the recent US FOMC minutes suggest a continued hawkish stance on policy rates...Meanwhile, the domestic market is reaching new highs, with large caps playing second fiddle to the broader market rally, indicating sustained momentum in the short term. The BSE PSU index has experienced significant rerating due to strong performance and improved visibility, driven by PSU banks and defence stocks," said Vinod Nair, Head of Research, Geojit Financial Services. Firm GDP growth forecasts with the country set to remain the fastest growing major economy, inflation at manageable levels, political stability at the central government level, and appreciable central bank monetary policy, have all contributed to painting a bright picture for the Indian economy in recent quarters. Overseas investors have been remaining net sellers of Indian equities for the past several sessions. Interestingly, domestic institutional investors during the same period stayed net buyers, largely making up for the outflows by the foreign investors. Shrikant Chouhan, Head Equity Research, at Kotak Securities, said, "The improvement in market sentiment over the past week suggests that market expectations surrounding the ongoing Lok Sabha elections have steadied. Furthermore, better-than-expected 4QFY24 earnings in some key pockets supported momentum."

Indian stocks accumulated stellar returns this week; Sensex jumped 1,600 points

<ul><li>As much as ₹3.62 lakh crore of bank notes exist in the form of ₹2,000 currency notes, says <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>.</li><li>Of this, as much as ₹1.5-2 lakh crore is expected to make its way to banks as it’s being taken off circulation.</li><li>Since ₹2,000 currency note is still legal tender, a few people might even invest in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword>, gold, consumer durables and more, say analysts.</li></ul>Indian central bank’s move to withdraw ₹2,000 currency notes from circulation, will help banks, say analysts as it will aid deposit growth and improve system liquidity. The Reserve Bank of India (RBI) on Friday said that it intends to pull ₹2,000 banknotes from circulation, and gave people four months to either exchange or deposit them at banks. “Bank Nifty is likely to gain more traction since the ₹2,000 note withdrawal is positive for banks. It will add to the deposits of banks and increase their CASA thereby boosting their bottom line,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. C<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/fy23-loan-growth-at-11-year-high-despite-steep-hike-in-lending-rates/articleshow/99359415.cms">redit growth has been outpacing deposit </a>growth for many quarters now. In FY23, outstanding deposit growth stood at 9.6% while outstanding credit growth stood at 14.6%. In these times, a flood of deposits will help banks. How much can come from ₹2,000 notes The ₹2,000 notes were introduced in 2017, after the Government of India went in for demonetization of ₹500 and ₹1,000 notes in November 2016. These notes have <a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">served their purpose</a>, said RBI governor Shaktikanta Das in a statement on Monday, and assured people not to rush to banks. According to RBI, the total value of ₹2,000 banknotes in circulation was ₹6.73 lakh crore at its peak as on March 31, 2018. That’s 37.3% of total notes in circulation. It has dwindled to ₹3.62 lakh crore— and now constitute only 10.8% of notes in circulation as on March 31, 2023. Of this amount, Kotak Institutional Equities expects as much as ₹1.5-2 lakh crore to make its way into banks as deposits. “On a net basis, it is likely that deposits will increase by ₹1.5-2 lakh crore. Durable liquidity could increase by around ₹1 lakh crore depending on behaviour of depositors. This should ease the credit-deposit ratio across banks,” said a report by Kotak Institutional Equities. Further, analysts believe instead of depositing notes in banks people may spend these in buying assets like gold, durables or even real estate property. This money too will indirectly make its way into banks. “With the bank note remaining a legal tender, unlike demonetization, consumption could see a boost. In fact, notes which are not deposited by individuals (undisclosed income, deposits above certain limits, etc.) could move to high-value spends such as gold and jewelry, high-end consumer durables, and real estate (which then reaches <keyword id="6409502" type="General" weightage="20" keywordseo="bank-deposits" source="Orion">bank deposits</keyword>),” added the Kotak report. Besides, some experts say that the rise in deposits may urge the central bank to pause any further hike in interest rates as inflation eases too. A report by Emkay Global says that the deposit surge will ease the current tight liquidity conditions, even if the eventual net deposits remaining with the banking system may be far lower than those seen during demonetization in 2016. As much as ₹1.1 lakh crore was deposited into bank accounts after demonetization in 2016, adjusting for business as usual or BAU during the same period in FY15-16. “Some bankers believe incremental deposit build-up may also largely stall any further deposit rate hikes, while it may also precipitate rate roll-down amid increasing signs of early policy rate easing as the inflation trajectory moderates,” said a report by Emkay Global. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered </a><a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation</a>

You Searched For "2000 note exchange" and got 13 results

Rs 2,000 notes: 97.96% returned; Rs 7,261 crore worth notes still with public

PTI

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

ANI

Indians have highest concentration of professionals among ethnic groups in the UK: Report

PTI

₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered

Sourabh Jain

Half of India’s ₹2,000 notes are back with banks within a month of withdrawal announcement

Katya Naidu

You need not visit a bank to exchange your Rs 2,000 notes – Here’s how Amazon can help you

Rahul Verma

RBI says 93% of ₹2000 notes returned to banks

PTI

Markets hit new milestones, robust surge in active traders as investor numbers soar

Ira Alok Puranik

As much as ₹8,470 crore worth ₹2,000 notes still with public: RBI

PTI

RBI to withdraw ₹2,000 currency notes from circulation, will continue to be legal tender

Katya Naidu

No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation

Katya Naidu

Indian stocks accumulated stellar returns this week; Sensex jumped 1,600 points

ANI

Not just bank deposits, gold sales & real estate to get a boost from ₹2,000 note withdrawal

Bhakti Makwana

Popular Keywords

Buying Guides