The Indian financial system will withdraw its highest denomination forex observe from circulation, the central financial institution stated on Could 19. The 2000-rupee observe will stay authorized tender, however residents have been requested to deposit or trade these notes by September 30, 2023.India will withdraw its highest denomination forex observe from circulation, the central financial institution stated on nineteenth Could. The 2000-rupee observe, launched into circulation in 2016, will stay authorized tender however residents have been requested to deposit or trade these notes within the subsequent 4 months, that’s September 30, 2023. The choice for a lot of is harking back to a shock transfer in 2016 when the Narendra Modi-led authorities had withdrawn 86% of the financial system’s forex in circulation in a single day. The affect of that call is confronted even at this time and had been a explanation for inconvenience for the general public. Submit this announcement, social media is abuzz with speculations in regards to the nature of this transfer with many evaluating it with the 2016 mega demonetization drive nevertheless this transfer in actuality isn’t just like the demonetization drive. The principle problem we deal with listed below are the why and the aftermath of this daring transfer and whether or not it’s really useful for the financial system or only a strategic transfer earlier than the 2024 common elections?