Increase In Inquiries Reported For Smartphones After RBI Withdraws Rs.2000 Notes

New Delhi: Smartphone retailers across the nation are seeing an increase in inquiries since the Reserve Bank of India (RBI) announced the withdrawal of Rs. 2000 banknotes. Moreover, retailers are offering discounts and putting out flyers and posters detailing the number of Rs. 2000 notes needed to buy the latest premium handsets to use it as an opportunity to boost sales at a time when overall demand for smartphones has been tepid.

RBI’s decision to withdraw Rs. 2000 denomination notes has led to a dramatic increase in cash transactions at fuel stations especially in Punjab. The Punjab Petroleum Dealers Association has now urged the RBI to issue guidelines to the banks for providing enough small denomination notes.

Slamming the cental government’s decision to withdraw big currency, Chhattisgarh CM Baghel on Saturday accused the Bhartiya Janata Party (BJP) government of misusing around Rs 1600-1700 crores on printing of notes. “the government should not take such decisions whenever they want. Are they pushing the country towards digital cash, bitcoin, and cryptocurrency?”, he further added.

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