The news of the discontinuation of the 500 rupee note has now intensified. Like the 2000 note, the printing of 500 rupee note may stop. Let us tell you by when the circulation of 500 rupee notes will stop.
The government is constantly trying to promote the digital payment system in the country. In this sequence, there is talk of stopping the circulation of big notes. RBI has already stopped printing 2,000 rupee notes. Now there is a preparation to stop the 500 rupee note. Let us tell you through experts by when the 500 rupee notes can be discontinued. What will be the situation after this. What is the government’s planning regarding this.
According to banking expert Ashwani Rana, the government can discontinue the 500 rupee note after March 2026 after the consent of the IBI. Steps have already been taken by the RBI to reduce the circulation of big notes. 2000 rupee notes have almost disappeared from the market. Something similar will happen with 500 rupee notes as well. The government will not stop it directly like demonetization. According to experts, RBI may first instruct banks to increase the circulation of smaller 100 and 200 rupee notes in the transaction of other money in ATMs. Only after that an announcement should be made about it.
Will 500 rupee notes not remain in circulation?
According to Ashwini Rana, the government will reduce the circulation of 500 rupee notes. It will not stop it completely. People will be given enough time to deposit their money. With this, gradually RBI will accumulate 500 rupee stock and the notes will stop appearing in the market.
Demand for 100-200 rupee notes
The government will increase the circulation of 100 and 200 rupee notes to stop the circulation of 500 rupee notes. The number of 100 and 200 rupee notes in ATMs will be gradually increased and the 500 rupee notes will stop looking like 2000 rupee notes and in this way all the notes will gradually reach the banks.
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