Mumbai Jewellery trade has risen hardly after the central bank’s move to withdraw ₹ 2,000 notes from rotation, but it can not be compared with the 2016 rush when ₹ 500 and ₹ 1,000 notes were discontinued, say jewellers.
The Reserve Bank of India’s Friday advertisement to take back ₹ 2,000 notes in exchange for lower denotation bones differs from the 2016 exercise as the ₹ 2,000 notes will remain legal tenders.
The 2016 exercise saw fear buying of the precious unheroic essence, a trusted investment tool for middle- class Indians that was at half of its current prices. But the situation this time is different, says a top jewellers body.