RBI Governor's Assurance on India's Economy

RBI Governor Sanjay Malhotra recently addressed the Parliamentary Standing Committee on Finance, highlighting the resilience of the Indian economy despite facing global challenges. He provided comprehensive insights into the financial system, reassuring lawmakers of the country's strong economic footing.

Status of Rs 2,000 Currency Notes

During the meeting, questions arose regarding the Rs 2,000 notes. Governor Malhotra clarified that while these notes are no longer in circulation, they remain legal tender. The RBI has yet to declare them invalid, a point confirmed by sources present at the discussion.

Combating Counterfeit Currency

The issue of counterfeit notes was also discussed, with a member noting the seizure of approximately 1.12 lakh fake Rs 500 notes. Governor Malhotra emphasized the RBI and government's commitment to preventing such activities, detailing ongoing measures to curb the circulation of counterfeit currency.

Discussion on Cryptocurrency Regulations

Cryptocurrency regulations were another topic of interest, though specific details of the RBI's stance were not disclosed. The meeting concluded with plans for a follow-up session focusing on the Insolvency and Bankruptcy Code (IBC), scheduled for late July.