Mon, 02 Oct 2023

Bengaluru (Karnataka) [India], May 28 (ANI): After having received complaints that some bus conductors denied accepting Rs 2000 currency notes in Karnataka, the state transport authority has clarified that it did not issue any such orders.

"Please note that BMTC Central Office did not issue any such orders to the crew not to take Rs 2000 notes," said a statement by Karnataka State Road Transport Corporation (KSRTC) and Bengaluru Metropolitan Transport Corporation (BMTC).

Notably, due to some confusion, Hosakote Depot had issued an order not to accept to be withdrawn Rs 2000 from circulation. But the order was soon withdrawn.

On May 19, the Reserve Bank of India (RBI) decided to withdraw the Rs 2,000 denomination currency notes from circulation, but added they (currency notes) will remain legal tender. However, RBI has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect.

The exchange of Rs 2,000 notes at bank branches started on May 23. As of now, RBI said the exchange facility is available till September 30, 2023, and the notes continue to be legal tender. RBI is likely to revisit the September deadline based on the situation going ahead.

The Rs 2000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. (ANI)

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