IT IS DIFFICULT TO CHANGE THE SHABBY 200 AND 5000 NOTES

Hyderabad , May 14 (way2newstv.in):

On November 8, 2016 , after the demonetization that the central government has introduced the Rs. 2,000 and Rs. 200 notes . the worth of 6.70 lakhs of crores 2000 notes are in the running. The banknotes, which have been shifted to customers from banks and banks, have been shaken by the loss of Rs. 200 and Rs.2000, Because the terms of exchange are to be modified. The RBI also said that it is unlikely that the new series will change the notes. 

IT IS DIFFICULT TO CHANGE THE SHABBY 200 AND 5000 NOTES

Section 28 of RBI Act states that only Rs 5, Rs 10, Rs 50, Rs 100, Rs 500, Rs 1,000, Rs 5000 and Rs.10,000 denomination. It does not include Rs 200 and Rs 2,000 notes. The bankers say that there are new incidents of new denomination notes and that it will become a problem if the law is not revised immediately. RBI has also written a letter to the Finance Ministry for revising the law. However, a central government official said it would take a decision soon.