👉The Reserve Bank of India (RBI) has made a significant decision to withdraw the Rs 2000 note from circulation, as reported in the latest announcement. The move comes as part of the central bank's efforts to streamline the currency system and promote digital transactions. The high-value currency note, introduced in 2016 after the demonetization exercise, will no longer be considered legal tender. The decision aims to address concerns related to counterfeit notes, black money circulation, and the ease of conducting transactions. The RBI is expected to provide guidelines and timelines for the withdrawal process to ensure a smooth transition for the public and the banking system.✅ . . #RBI #CurrencyWithdrawal #DigitalTransactions #CurrencyStreamlining #CounterfeitNotes #BlackMoney #Demonetization #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉It won't be long until Indians living abroad may use their international mobile numbers to access the Unified Payments Interface (UPI). Non-Resident Indians (NRIs) in ten countries can use UPI services without relying on their India phone number for transactions. Singapore, the US, Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, the UAE, and the UK are the nations in question. The National Payments Corporation of India claims that accounts with international mobile numbers, such as NRE/NRO (Non Resident External and Non Resident Ordinary) accounts, can use UPI to conduct transactions. Partner banks have until April 30 to follow the rules, according to the Payments Corporation. While an NRO account assists NRIs in managing revenue received in India, an NRE account enables them to transfer foreign profits to India. The only prerequisites are that banks confirm that these accounts are permitted in accordance with Foreign Exchange Management Act (FEMA) regulations, adhere to Reserve Bank of India (RBI) recommendations, and take precautions to prevent money laundering and financing of terrorism.✅ . . #UPI #UPIindia #upitransactions #moneytransactions #RBI #NRI #foreignmoney #mnm #malayalisnearmeapp #canadaupdate #canadanews