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HomeCURRENT AFFAIRSBUSINESS2000 Note Update News: From mangoes to luxury watches, Indians embrace spending...

2000 Note Update News: From mangoes to luxury watches, Indians embrace spending spree with 2000 rupee notes

2000 Note Update News: Many Indians are boosting their purchases of everyday necessities and even luxury brands in an effort to avoid swapping the 2,000 note. The markets are crowded with people spending their 2,000 notes on everything from mangoes to designer watches. The initiative is also encouraging individuals to give massive sums of 2,000 note donations to temples.

Mango Vendors Accepting 2000 Rupee Notes as Customers Pay with Confidence

The majority of Indian businessmen are currently taking the 2,000 note gladly in the hopes that they will benefit and see a surge in sales. Since Saturday, many customers have been paying for mangoes with 2,000-rupee notes, according to Mohammad Azhar, a mango vendor at Crawford Market in Mumbai, who spoke to Reuters. “I now receive 8 to 10 notes per day. I’ll take it. Since it’s my business, I have no choice. Before September 30, I will deposit everything at once. Since the note is legitimate, there is no need for fear, he said.

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Rado Store in Mumbai Witnesses Increase in Sales with 2000 Rupee Notes

Michael Martis, the store manager at a Rado store in Mumbai, has noticed a significant increase in transactions involving 2,000-rupee notes ever since the announcement of the removal of the currency. “That has increased our watch sales to 3-4 pieces per day from 1-2 previously,” claimed Martis. 400 notes with a denomination of 2,000 were discovered in the donation box at the Maa Jwala Devi temple in Himachal Pradesh’s Kangra district by the temple administration. According to the temple administration, the ₹8 lakh will be utilised to build amenities for the faithful. The Reserve Bank of India (RBI) declared on May 19 that it would remove the 2,000 rupee notes from circulation while maintaining their legal tender status. The deadline to exchange the 2,000 notes was set at 30 September by the central bank, and most recently, RBI Governor Shaktikanta Das stated that the time may be extended based on public reaction.

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