{"id":243412,"date":"2023-05-22T20:41:20","date_gmt":"2023-05-22T15:11:20","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=243412"},"modified":"2023-05-24T16:48:29","modified_gmt":"2023-05-24T11:18:29","slug":"why2k-question-will-withdrawing-%e2%82%b92000-notes-smoke-out-the-crooked-unlikely-the-crooked-economys-much-more-inventive","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/why2k-question-will-withdrawing-%e2%82%b92000-notes-smoke-out-the-crooked-unlikely-the-crooked-economys-much-more-inventive\/","title":{"rendered":"Why2k Question &#8211; Will withdrawing \u20b92,000 notes smoke out the crooked? Unlikely. The crooked economy\u2019s much more inventive"},"content":{"rendered":"\n<p><strong>Source:\u00a0<\/strong>The post is based on the article\u00a0<strong>\u201cWhy2k Question &#8211; Will withdrawing \u20b92,000 notes smoke out the crooked? Unlikely. The crooked economy\u2019s much more inventive\u201d <\/strong>published in <strong>The Times of India <\/strong>on\u00a0<strong>22nd<b>\u00a0May 2023.<\/b><\/strong><\/p>\n<p><strong>Syllabus<\/strong>: GS \u2013 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.<\/p>\n<p><strong>Relevance<\/strong>: About RBI&#8217;s decision to withdraw Rs 2,000 notes.<\/p>\n<p><strong>News<\/strong>: The Reserve Bank of India (RBI) has decided to withdraw the Rs 2000 denomination banknotes from circulation.<\/p>\n<h2>Why has the RBI withdrawn Rs 2,000 notes?<\/h2>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Must read: <a href=\"https:\/\/forumias.com\/blog\/why-has-the-rbi-withdrawn-rs-2000-notes\/\" target=\"_blank\" rel=\"noopener\">Why has the RBI withdrawn Rs 2,000 notes?<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>What are the concerns highlighted by experts on RBI&#8217;s decision?<\/h2>\n<p><strong>Creates confusion<\/strong>: The circular said the notes \u201cwill continue to be legal tender\u201d while also telling the public to \u201cutilise the time up to September 30 to deposit and\/or exchange\u201d.<\/p>\n<p><strong>Does not reduce the black market<\/strong>: People who play with very large sums of money does not depend only on bundles of currency notes. Gold is enjoying a superior premium ever since the pandemic. Further, black marketers also prefer dollars.<\/p>\n<p><strong>Does not address unaccounted cash<\/strong>: The recent SBI circular has said that none of its branches will ask for documents and there are reports that deposits\/ exchanges by one person can happen several times a day, and any number of times till the deadline. This is not addressing the unaccounted cash holding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source:\u00a0The post is based on the article\u00a0\u201cWhy2k Question &#8211; Will withdrawing \u20b92,000 notes smoke out the crooked? Unlikely. The crooked economy\u2019s much more inventive\u201d published in The Times of India on\u00a022nd\u00a0May 2023. Syllabus: GS \u2013 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Relevance: About RBI&#8217;s decision to&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/why2k-question-will-withdrawing-%e2%82%b92000-notes-smoke-out-the-crooked-unlikely-the-crooked-economys-much-more-inventive\/\">Continue reading <span class=\"screen-reader-text\">Why2k Question &#8211; Will withdrawing \u20b92,000 notes smoke out the crooked? Unlikely. The crooked economy\u2019s much more inventive<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10498],"class_list":["post-243412","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704834090},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/243412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=243412"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/243412\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=243412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=243412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=243412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}