RESERVE Bank Governor Shaktikanta Das on Monday said the impact of withdrawal of Rs 2,000 currency notes will be “very very marginal” on the economy because it accounts for only 10.8 per cent of currency in circulation. Describing the withdrawal exercise as part of currency management operations of the Reserve Bank, he said, he expects most of the withdrawn Rs 2,000 notes to be returned to the exchequer by the deadline of September 30. Talking to reporters, Das said, “the impact of this on the economy will be very very marginal because it is only 10.8 per cent of currency in circulation.

 

As you know that Rs 2,000notes were not commonly usedin any transaction … We havefound that it is hardly beingused for carrying out transactions. Therefore, economicactivity will not be impacted.”Asked if Rs 2,000 notes will continue to be a legal tender, Das said“It will continue as legal tender. I cannot give a speculative answer about what will happen post September 30.”