Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
March 17, Saturday 2018 4:12 PM       

       HEADLINES: Three Malayalis die in Velankanni vehicle accident                                              M B Rajesh clarifies why UP people’s representatives wore red cap                                              Smooth delivery for Adivasi woman in KSRTC bus                                              Navy helicopter makes emergency landing on Alappuzha paddy field                                              Chengannur election: BJP leaders visit Mani                                              PNB fraud: 107 companies, 7 LLPs under scanner                                              Indian Army inks MoUs with HPCL, NIEDO                                              Saudi Prince threatens Iran to produce nuclear bombs                                              At least four dead in Florida university bridge collapse                                              Donald Trump Jr, wife headed for divorce after 12 years                                              Saudi warns it will pursue nuclear weapons if Iran does                                              Age no barrier for Japan's grandpa goaltender                                              SLC releases book on Dalmiya                                              Aditi Ashok starts Founders Cup with solid 70, lies T-17th                                              Kaumudi Facebook
       BUSINESS Next Article: Centre hikes DA to 5% for 1.1 cr employees, pensioners  
       70% people want scrapped Rs. 1000 note back, claims survey
         Posted on :19:05:50 Sep 12, 2017
       Last edited on:19:05:50 Sep 12, 2017
         Tags: 70% people want Rs. 1000 note back

MUMBAI: Ten months after the note-ban which saw the scrapping of the 1000 and 500 rupee notes, nearly 70 per cent of the population want the Rs. 1,000 banknotes back, says a survey.

Last November, government scrapped Rs 500 and Rs 1,000 notes, which accounted over 86 per cent of the total Rs. 16.24 trillion value of banknotes in circulation as of March 2016.

To the consternation of the pro-note-ban advocates and the government which was expecting trillions in savings from the move, last week the Reserve Bank had said as much as 99 per cent of the scrapped notes have come back to the system.

"Nearly 69 per cent of the of surveyed population responded with 'yes' when asked if there is a need for Rs 1,000 banknotes," according to a survey conducted by Way2Online, a Hyderabad-based local language short news app.

Following demonetisation, the Reserve Bank had also introduced new Rs. 500 and Rs. 2,000 notes.

Having released the new Rs 500 and Rs 2,000 bills for easy swapping of old notes, the choice of denominations severely hurt the section of population that deal with smaller denomination notes, the survey said.

"Around 62 per cent of the respondents faced problems in getting change since the note ban, while a 38 per cent had no issue in getting the change," the survey said.

In August, the Reserve Bank introduced Rs. 200 banknotes in a bid to fill the gap and ease cash transactions by guaranteeing getting change for larger denomination notes.

When asked if the newly minted Rs 200 bill will help in fixing the problem, more than two-thirds of the respondents or 67 per cent, answered in the affirmative while 17 per cent said that the new note will make no difference.

Of the 62 per cent who had trouble with getting exact change, only 44 per cent believed the new 200 currency note will solve the problem, while 10 per cent are convinced that the current ratio is too big to be filled with just a single denomination note.

Only 8 per cent were unaffected by the move, probably they have accepted digital payments or have apprehensions about the availability of the new notes.

Next Article: Centre hikes DA to 5% for 1.1 cr employees, pensioners
Sensex dives 510 pts on political concerns; extends losses for 4th day  
Sebi slaps Rs 12 L fine on merchant banker in Onelife Capital IPO case  
Now there is a marketplace to buy and sell pre-owned taxis in India  
Tata group Chief Ethics Officer Mukund Rajan quits  
Gold softens on muted demand, global cues  
Wholesale inflation eases to 2.48% in Feb'18  
Sensex down 150 pts, Nifty slips below 10,400  
SBI reduces charges on non-maintenance of minimum balance  
Regulations should not impact pace of innovation: Google  
No Nirav Modi firm in the list of 2.26 lakh deregistered cos: Govt  
Paytm to be official umpire partner for IPL 2018  
Sensex zooms the most in two yrs, Nifty above 10,400 on global relief rally  
Sensex rallies 301 pts ahead of IIP, inflation data  
Nirmala Sitharaman invites private sector in Defence  
Alstom completes all-electric ‘Make in India’ locomotive, announces €75 million contract  
Limit collateral damage from bank frauds: ASSOCHAM  
Handy tips for women before joining a new job  
Nearly 17cr Aadhaar cards linked with PAN: Centre  
GST Council likely to simplify tax returns  
RBI imposes Rs. 5 cr penalty on Airtel Payments Bank  
Jaitley to chair 26th GST Council meeting Saturday  
Sensex ends marginally lower on late sell-off  
Five women entrepreneurs who made a mark in male dominated sectors  
Lakshmi Venu weds tech entrepreneur Mahesh Gogineni  
Direct tax collection show growth of 19.5 percent till February  
Do you think controversies are now being used as business tools?
don't opinion
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy