In the wake of the RBI's announcement about withdrawal of Rs 2,000 currency notes, the petrol pumps in Maharashtra's Aurangabad have seen a significant rise in the inflow of these notes, an official of a petroleum dealers' body said on Monday.?
Maha: Petrol Pumps In Aurangabad See Increase In Payments Using Rs 2,000 Notes
The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 currency notes, and gave people time till September 30 to either deposit these notes in accounts or exchange them at banks.
RBI Stops Printing Rs 2000 Note, Current Focus On Smaller Denominations, Including Rs 200
RBI Stops Printing Rs 2000 Note, Current Focus On Smaller Denominations, Including Rs 200
Prior to the announcement, very few customers would pay using Rs 2,000 currency notes at petrol pumps, he said.
The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 currency notes, and gave people time till September 30 to either deposit these notes in accounts or exchange them at banks.
Banks have also been asked to stop issuing Rs 2,000 notes with immediate effect, the apex bank said.
"Earlier, customers would pay using two to three notes of Rs 2,000 denomination in a day. However, we are getting nearly 100 notes in a day since the RBI's announcement about these currency notes," Petroleum Dealers Association (PDA) secretary Aqeel Abbas told PTI.
The phenomenon is not only seen in petrol pumps in the city, but also in the rural parts of the district, he said.
"Since there are no issued with depositing these notes in the banks, we are accepting them and the transactions are being done smoothly," Abbas said.
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