Big news: 500 and 2000 notes: Check, RBI is additionally in tension
Many things are damaged during the Corona period (Covid-19). Whether it’s business, transportation, employment or anything. People also sanitized Noto for fear of infection. This has resulted during a sizable amount of currencies being corrupted by sanitizing, washing and sunbathing notes.
This is the rationale why the amount of bad notes reaching the Federal Reserve Bank of India (RBI) has broken all records till date. A maximum of two thousand rupee notes is damaged. This time, quite Rs 17 crore notes of Rs 2,000 were received by the RBI. aside from this, 2 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 above last year. People have started washing, sanitizing and drying the notes since the news of corona infection surfaced a while ago. Banks also are spraying sanitizers on rupee coins. As a result, the old notes are discarded and therefore the new notes have also gone bad for a year.
Corona had such an impact on the noteLast year, 6 lakh notes of 2000 went bad. At this point, the amount has crossed 17 crore. The new 500 notes went ten times worse. 200 notes became 300 times more useless than last year. The new currency of the twenty has depreciated quite twenty times during a year.
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Find out what percentage bad notes came during which yearIf we mention the year 2017-18, at that point 2 lakh one lakh notes came to the RBI. At an equivalent time, this number increased to six lakh in 2018-19. This year, this number has broken all records. within the year 2019-20, Rs 17.68 crore notes of Rs 2,000 were received by the RBI. Similarly, if we've 500 notes, 1 lakh in 2017-18, 1.54 crore in 2018-19 and 16.45 crore in 2019-20. allow us to know that each year RBI has the very best number of 10, 20 and 50 bad notes. the five hundred and 2000 notes have set a replacement record this year.
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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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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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