Additionally, the RBI has provided customers with a window through which they can deposit their Rs 2,000 notes in banks by the end of September.
Digital Desk: Food delivery firm Zomato has been flooded with notes from consumers paying cash for their orders in the days following the RBI's announcement regarding the withdrawal of Rs 2,000 currency notes. Zomato reported on Monday that since Friday, 72% of the "cash on delivery" orders had been paid for in Rs 2,000 notes.
The withdrawal of Rs 2000 notes is being viewed as an additional step in the demonetization process, which sparked a frenzy among the populace soon after the RBI announcement. However, the RBI has clarified that it is not a demonetization but merely a use limitation.
Zomato earlier poked fun at the RBI's statement regarding the removal of Rs 2,000 notes from circulation in a tweet.
Additionally, the RBI has provided customers with a window through which they can deposit their Rs 2,000 notes in banks by the end of September.
The RBI stated that the public will have access to the facility of exchange across the counter in the same manner as it has in the past for the exchange and deposit of Rs 2,000 notes.
The majority of the Rs 2,000 notes are expected to be returned by the deadline of September 30. This was said earlier in the day by RBI Governor Shaktikanta Das. The RBI advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect.
Following the Central Bank's decision that the notes will be taken out of circulation, Shaktikanta Das added that Rs 2000 notes will still be a valid form of payment.
Additionally, he urged people not to rush to banks and added that he doesn't expect a rush in the branches. The Governor claimed that the primary purpose of issuing the Rs 2000 note was to replace the money that had been removed from circulation when the Rs 500 and Rs 1,000 notes were demonetised.
The governor explained that the deadline of September 30 for the exchange of Rs 2000 notes was chosen so that it would be handled seriously. According to the governor of the top bank, the September deadline will be reviewed in light of the circumstances.
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