Following the RBI's withdrawal of 2,000 notes, Zomato reports that "72% of customers" paid with cash.
The latest announcement by the Reserve Bank of India (RBI) regarding the removal of Rs. 2000 notes from circulation on May 19, 2023. Starting on May 23, the 19 regional offices of the Reserve Bank of India (RBI) and other banks will accept 2,000 rupee notes in exchange for notes of lower denomination. According to the RBI, they will continue to be accepted as legal money.
Following the RBI pronouncement, 72% of "cash on delivery orders" were paid with 2,000 rupee notes, according to a report released on Monday by food delivery service Zomato. To spread the word, the food delivery service chose the ideal meme—a nod to Breaking Bad.
Zomato tweeted, "Since Friday, 72% of our cash on delivery orders were paid with USD 2000 notes," and included an image of Huell Babineaux from the television show Breaking Bad sitting on a pile of cash. Zomato altered the image, changed the money, and made the character wear a Zomato t-shirt.
The image has received 15,000 likes and more than 1,000 retweets since it was uploaded.
"You should come up with a TV series - Broken Bread," a fan commented on the post.
One more person wrote, "You ought to feel joyful, right? The value of each of your orders rose to at least about 2000 rupees."
Another user posted, "Then, you can work with SBI. They will exchange your 2000-yen notes after you give them lunch."
"Yesterday I saw a boy eat chhole kulche for fifty rupees and give the vendor two thousand notes and refused to pay in any other way. The dealer was forced to agree. walked over the street, paid with a 2000 rupee note, and requested a juice for 40 rupees. The most secure and cost-effective approach to get rid of a 2000 Rs note appears to be this, the fourth wrote.
The RBI has ordered all banks to immediately cease issuing the 2,000 note.
As Prime Minister Narendra Modi overnight eliminated high-value notes of 1,000 and 500 rupees, the RBI began issuing the 2,000 note in November 2016.
Comment: "After banknotes in other denominations were widely available in sufficient quantities, the goal of issuing 2,000 banknotes was achieved. Hence, in 2018, the production of 2000-yen banknotes was terminated.
"When sufficient supplies of notes in other denominations became available, the goal of introducing 2,000-yen notes was achieved. Thus, the production of 2000-yen banknotes was discontinued in 2018–19 "in a statement, the RBI.