Abstract

₹2000 NOTE BAN AND ITS RIPPLE EFFECTS IN INDIA – A STUDENT’S PERSPECTIVE

Kasa Aswini*, Lella Janaki, Kasu Lavanya, Lankapalli Samatha, Konda Meghana

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Abstract

The ₹2000 note was introduced by the Reserve Bank of India in November 2016 as an emergency step after demonetization of ₹500 and ₹1000 notes. It helped restore liquidity, ease panic, and support cash flow. However, as India’s economy became increasingly digital, the role of such a high denomination diminished. In 2023, under the Clean Note Policy, the 2000 rupees note was officially withdrawn from circulation. This review explores the reasons, impact, and responses to this major monetary shift. It analyses how the decision affected the economy, society, and students’ understanding of finance. The policy improved transparency, reduced counterfeit cases, and encouraged financial inclusion, though temporary inconveniences arose in rural and elderly populations. From a student’s perspective, this event provided a real-world example of policy evolution, digital adaptation, and public cooperation. The paper includes visual graphs, tables, and timelines to show economic and social trends. The journey of the ₹2000 note— from its launch in 2016 to its withdrawal in 2023—reflects India’s transition toward a cleaner, digital, and more accountable economy.

Keywords: ₹2000 note, RBI, demonetization, Clean Note Policy, digital payments, financial literacy, student view.[6–8]