RBI Governor Sanjay Malhotra briefs Parliamentary panel on Indian economy

In the meeting, many MPs have asked questions about the status of Rs 2000 bank notes, sources said. In his reply, the RBI Governor stated that Rs 2000 currency notes are no longer in circulation, but they continue to be a legal tender.

The RBI has yet to declare the Rs 2000 currency invalid.

One MP raised the issue of counterfeit currency circulation. The member stated that 1.12 lakh fake notes, worth 500, have been found or seized by the agencies, and considering that more than six crore notes are in circulation, this percentage-wise is quite low.

The governor took note of this and said that the government and the RBI are fully committed to preventing such activities and are consistently taking measures to address this issue.

Further, many members of the Parliament also wanted to know about the status of cryptocurrency in India, the sources added.

BJP MP Bhartruhari Mahtab, Chairman of the Parliamentary Standing Committee on Finance, said after the meeting that it was a very meaningful discussion today with the Governor of the RBI.

"He gave us a wide range of information related to the economic situation and the financial system of our country. Members also had questions, and I believe most of them were quite convincing. The next meeting is likely to be on the 23rd or 24th of this month, with the RBI Governor, regarding the Insolvency and Bankruptcy Code (IBC). The economy is doing very well despite global headwinds, so that is the way in which he has explained," the Chairman of Parliamentary Standing Committee on Finance said. (ANI)