Are vendors, petrol pumps in Hyderabad accepting Rs 2000 notes?

Hyderabad: Since the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination notes, which were introduced after the demonetization in 2016, concerns have been raised regarding the acceptance of these notes by vendors and petrol pumps in Hyderabad.

Despite the RBI’s confirmation that Rs 2000 notes continue to be legal tender, reports have emerged suggesting that certain establishments are refusing to accept them.

Video of petrol pump worker not accepting Rs 2000 notes goes viral

Numerous netizens have taken to social media platforms to share their experiences of facing refusal when attempting to make payments using Rs 2000 denomination notes. One such incident captured attention when a video surfaced on Twitter, showing an Indian Oil Petrol Pump located in Hyderabad declining to accept Rs 2000 notes. In the video, a worker can be seen suggesting customers deposit the notes in banks rather than using them for payments.

It is not just petrol pumps, but reports also indicate that hospitals, pharmacies, and vendors in various states in India are hesitant to accept Rs 2000 notes for transactions. This refusal has raised concerns among individuals who possess these notes and are facing difficulties while attempting to utilize them for daily expenses.

RBI’s announcement

On Friday, the RBI announced that the Rs 2000 denomination banknotes would be withdrawn from circulation but remain legal tender. The central bank stated that the introduction of the Rs 2000 notes in 2016 was aimed at meeting the currency requirements of the economy after the demonetization of the 500 and 1000 banknotes. As part of its clean note policy, the RBI plans to withdraw all Rs 2000 banknotes.

The RBI has announced that individuals can deposit Rs 2000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch until September 30, 2023. However, they can continue to use to it for making payments as it is a legal tender.

Despite the RBI’s announcement and assurance that Rs 2000 notes remain legal tender until their withdrawal, certain vendors and petrol pumps in Hyderabad are reportedly refusing to accept them as payment.