₹ 2000 Note Exchange: Some Banks Run Out Of Cash On Day 2

The ₹2000 currency note is being exchanged at many banks since yesterday. As expected, some bank branches ran out of cash and temporarily halted the exchange of withdrawn ₹ 2000 currency notes on day two of the swap.

Due to high demand during the first half in some of the branches, it led to the shortage of ₹ 500 and ₹ 200 also.

However, a Canara Bank GM said, ‘We are maintaining a continuous supply of Rs 500, 200 and 100 denominations notes at all our all branches across Delhi circle to ensure smooth exchange process of 2,000 rupee notes’.

It is already known that Reserve Bank announced on May 19 that the withdrawal of ₹ 2000 notes and permitted exchange of such notes up to a limit of ₹ 2000o a time till September 30, 2023.

Meanwhile, Indians are spending their ₹ 2000 notes everywhere including the daily essentials to even premium branded goods. A lot of people are using ₹ 2000 notes to pay for mangoes. Food Delivery company Zomato said on Monday that 72% of the cash on delivery orders were paid in ₹ 2000 notes since Friday.

A store manager at Rado luxury watch store in Mumbau reportedly said his store has seen nearly a 70% increase in ₹ 2000 notes since the withdrawal announcement.