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Why this shortage of Rs. 2000 currency notes?
Posted on: 17/Apr/2018 4:28:32 PM
There is a minor crisis in the banks due to the shortage of the currency notes of the denomination Rs. 2000 as the Reserve Bank of India has circulated only a fewer number of notes. This information was shared by the All India Banks Federation’s General Secretary, Thomas Franco.
In an interview he shared that the unrealizable debts of the banks have gone up to Rs. 9 Lakh Crores. Out of this, 88% of the loans have been given to the corporate companies.
Stringent activities have to be initiated to redeem these debts. The latest circular released by the Reserve Bank of India regarding the unrealizable debts has caused anxiety to the Indian Economy as well as the financial situation.
The recommendations given by the parliamentary standing committee during February 2016 must be implemented immediately.
The Reserve bank of India has not circulated the currency notes of Rs. 2000 in sufficient quantities. So there is a shortage for this. The public gets the Rs. 2000 currency notes from the banks and tend to keep them safely in their custody.
This leads to doubts about the bank services and their capacity/capability.
It is advisable to include the representatives of the bank employees and bank officers in the Public sector Banks Administration Boards.
