• After RBI's major decision, Zomato reveals that 72% of CoD bills paid in ₹2,000 notes

    National
    After RBI's major decision, Zomato reveals that 72% of CoD bills paid in ₹2,000 notes

    The 2,000 bank notes were intended to largely replenish the notes withdrawn during demonetisation, and the governor stated that the aim has been met.

    Digital Desk: According to Zomato, the leading
    Indian food delivery service, 72% of their Cash on Delivery (CoD) orders since
    Friday had been paid in 2000 denomination notes.



    The Reserve Bank of India (RBI) stated on
    Friday that it would withdraw 2000 denominations from circulation and set a
    September 30 deadline for depositing and/or exchanging their 2000 banknotes.



    People
    have been rushing to swap and dispose of their 2,000 currency notes since the
    announcement. People have flocked to petrol stations and jewellery stores in an
    attempt to get rid of these high-value notes.



    color:#424242">Meanwhile, RBI Governor Shaktikanta Das stated on Monday that
    there is no urgency to exchange 2,000 because the deadline is still four months
    away and the central bank will be sensitive to any concerns that arise
    throughout the process, if any.



    The
    decision to withdraw the denomination from circulation is part of the Reserve
    Bank's currency management operations and is consistent with the clean note
    policy. The 2,000 bank notes were intended to largely replenish the notes
    withdrawn during demonetisation, and the governor stated that the aim has been
    met.



     



    Tomorrow,
    the process of exchanging or depositing cash notes will begin. The State Bank
    of India stated that no ID proof or requisition papers will be required for the
    exchange of 2,000 notes, with a maximum of ten currency notes (20,000)
    exchanged at one time.














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