International repercussions: The withdrawal of the Rs 2,000 notes sparked interest beyond India's borders. Many countries closely observed this move as it influenced discussions on monetary policies and currency circulation worldwide.
The digital push: RBI's decision to withdraw the Rs 2,000 notes aligns with the government's digital payment agenda. By promoting digital transactions, the move aimed to foster a cashless economy and reduce illicit activities.
The environmental impact: The withdrawal of Rs 2,000 notes had a surprising environmental consequence. As these notes were primarily printed on polymer, their withdrawal contributed to reducing plastic waste in the long run.
The replacement strategy: RBI's decision to withdraw the Rs 2,000 notes was accompanied by a well-thought-out replacement strategy. The central bank introduced new lower denominations and promoted digital payment platforms to ease the transition for the public.