Withdrawal of Rs 2,000 notes won’t be disruptive: Shaktikanta Das

New Delhi, May 24

RBI Governor Shaktikanta Das today said the RBI was monitoring the situation regularly with regard to the withdrawal of Rs 2,000 notes and expressed confidence that the entire exercise would be completed in a non-disruptive manner even as some bank branches in the national capital ran out of cash and temporarily halted the exchange of notes. “The entire process will be non-disruptive. We have made our analysis about that,” he said at a CII event.

Monitoring situation

We are monitoring the situation regularly. I don’t think there is any concern or any major issue which is coming out…business activities going on. Shaktikanta Das, RBI Governor

During the first half of the day, there were reports of demand outstripping the stock of Rs 500 and lower denominations leading to extended waiting time for customers in some bank branches till replenishment came from the currency chest.

Meanwhile, jewellers reported a 15-20% rise in inquiries for gold and silver jewellery. “We are receiving more cash as compared to online transactions,” said Pawan Gupta of PP Jewellers.