Following the Reserve Bank of India (RBI)’s decision to withdraw the Rs 2000 note from circulation, an influx of these notes is being observed in private and government banks, petrol pumps, railway reservation centers, markets, and hospitals.
Refusal to accept ₹2000 notes
Complaints of non-acceptance of these notes are coming from various parts of the country. If government or private entities refuse to accept the ₹2000 note, they may face legal consequences, with penalties under treason if proven guilty.
Petrol pumps receive more ₹2000 notes
Petrol pumps, particularly in Delhi-NCR, are receiving almost five times more ₹2000 notes than before. Ajay Bansal from the Petrol Pump Association stated that there’s no concern for them, as these notes can be easily exchanged till September.
Market trends
More crowds were observed in markets over the weekend. The traders’ federation reported receiving more ₹2000 notes than before. Several traders are now warning their customers to provide smaller denomination notes to avoid deposit hassles.
Legal implications of refusal
Businessmen or traders cannot refuse ₹2000 notes until September. If anyone refuses, complaints can be made to the bank ombudsman or the head office of the bank, or to the concerned police station or ombudsman of the respective department. According to legal expert Rahul Kumar, “Non-acceptance of the note can be punishable under section 188 and section 124A (sedition) of the IPC.”
News Summary:
- Since RBI’s announcement to withdraw the ₹2000 note, there’s been an increase in these notes at various establishments.
- Complaints of non-acceptance of ₹2000 notes have emerged, and legal action can be taken against the refusal.
- Petrol pumps are receiving significantly more ₹2000 notes but remain unconcerned as they can be easily exchanged until September.
- Traders are advising their customers to use smaller denomination notes to avoid deposit-related hassles.
- Non-acceptance of the note can be punishable under specific sections of the IPC.
