RBI’s Move To Ban Rs 2000 Note Sparks A Hilarious Meme Fest On Twitter

The memories of demonetization came back in the minds of Indian public when the apex bank of the country, Reserve Bank of India made an announcement regarding the withdrawal of Rs. 2000 currency note which is the highest denomination currency note of the present times.

In order to ensure that there is no panic or anxiety in public, the central bank has made it clear that the note will remain legal tender and public will be able to deposit or exchange Rs. 2000 notes till 30 September 2023. The exchange of notes will start from 23 May in which public can exchange their Rs. 2000 notes in notes of different denominations but there is a limit of Rs. 20K at one time. However, there is no limit in regard to deposits and they can be made in usual manner.

Rs. 2000 notes were issued for the first time in 2016 after the Indian government under the Prime Minister Narendra Modi took the big step of demonetization and now the banks have been asked to stop issuing Rs. 2000 notes with instant effect.

An RBI official told a leading daily that this is routine exercise and something of this sort was done in 2013-14 as well when the government withdrew currency notes which were issued in 2005. The official states that there is nothing much to look into this matter as it is done by many countries on a regular basis. He also states that the finance ministry is fully aware of the decision as RBI can’t make this decision alone.

Soon after this announcement, the Indian Twitterati got into action and many memes and jokes flooded on the micro-blogging site Twitter. Here are some selected reactions:

https://twitter.com/aqquwho/status/1659567296594182145

https://twitter.com/aqquwho/status/1659570621494497281

What do you think of this move of RBI? Do let us know.