RBI's big announcement, new notes of 100 and 200 will come soon, will the old notes be discontinued?

The Reserve Bank of India (RBI) has made a big announcement regarding 100 and 200 rupee notes. Actually, the Reserve Bank of India is going to issue new notes of 100 and 200 soon, but there will be no change in their design. RBI has informed that these new notes will have the signature of Governor Sanjay Malhotra. This is a normal process, in which notes with the signature of every new governor are issued after his appointment.

Will the old notes go out of circulation?

Absolutely not! RBI has clarified that the old 100 and 200 notes will remain valid and will not be changed. RBI has said that these notes will soon be available in banks and ATMs. Let us now know where people use cash the most. Along with this, we will also know how the cash flow was in India after the ban on 2000 notes.

How much cash is being used in India

According to the report, despite the ban on 2,000 notes, the circulation of cash in the country has increased more than before. If you look at the data of RBI, you will know that while the cash circulation was 13.35 lakh crores in March 2017, it increased to 35.15 lakh crores by March 2024. Apart from this, digital transactions through UPI are also increasing rapidly. UPI transactions were 2.06 lakh crores in March 2020, while by February 2024 it increased to 18.07 lakh crores. Whereas, if we talk about the whole of 2024, this year the digital transaction has been around 172 billion.

In which states the most money is withdrawn from ATMs

According to reports, the most money was withdrawn from ATMs during FY'24 in Delhi, Tamil Nadu, Uttar Pradesh, West Bengal and Karnataka. Actually, the demand for cash increases during festivals and elections. Apart from this, the reach of digital payments is limited in rural areas, due to which people here use cash more.