RBI Sets September 30 Deadline for Exchanging or Depositing ₹2,000 Notes
RBI Sets September 30 Deadline for Exchanging or Depositing ₹2,000 Notes-The Reserve Bank of India (RBI) has assured the public that the ₹2,000 currency notes will continue to be legal tender even after the September deadline. This announcement aims to prevent panic among the citizens and keeps the possibility of extending the deadline open for exchanging or depositing the high-value notes. The current deadline of September 30 is designed to encourage as many people as possible to utilize the window provided for depositing their ₹2,000 notes. While there is a limit of ₹20,000 for exchange, individuals can visit bank branches multiple times to swap their notes. Furthermore, there is no limit on the amount that can be deposited into a bank account.
Wholesale Inflation Rate in India Falls After Three Years
Wholesale Inflation Rate in India-India’s wholesale inflation rate experienced a significant decline, falling to 10.49% in April compared to 15.08% in March. This noteworthy drop marks the first time wholesale inflation has fallen below 11% since September 2021. The decline can be attributed to the decrease in prices of essential commodities like food items, fuel, and manufactured goods.