Zomato Reports 72% Cash Payments Following RBI's Withdrawal Of ₹2,000 Notes

The Reserve Bank of India (RBI) recently stated that the 2000 notes will be phased out of circulation on May 19, 2023. From May 23, the Reserve Bank of India's (RBI) 19 regional offices and other banks will begin accepting 2,000 notes for exchange with lesser denomination notes. According to the RBI, they will continue to be legal tender.

Following the RBI pronouncement, meal delivery company Zomato stated on Monday that 72% of 'cash on delivery orders' were paid with 2,000 notes. To spread the word, the food delivery service chose the perfect meme, a Breaking Bad reference.

"Since Friday, 72% of our cash on delivery orders were paid in ₹ 2000 notes," Zomato posted a photo of Breaking Bad character Huell Babineaux atop a stack of cash. Zomato altered the image by having the character wear a Zomato t-shirt and replacing the cash.

The posted picture has garnered an impressive response, accumulating 15,000 likes and over 1,000 retweets thus far.

Engaging with the post, one user suggested, "You should consider creating a TV series called 'Breaking Bread.'"

Meanwhile, another user remarked, "You must be delighted! Your per-order value has risen to approximately 2000 rupees."

The third user suggested a possible solution, stating, "You can consider partnering with SBI. If you provide them with lunch, they might be willing to exchange your ₹2000 notes."

"Yesterday saw a boy ate chhole kulche of ₹ 50 and gave 2000 notes to the vendor and refused to pay in any other mode. The vendor had to accept. Crossed road, ordered 40 rs juice and gave 2000 rs note. This seems to be the safest and most economical way to get rid of 2000 rs note," the fourth wrote.

The RBI has directed all banks to immediately cease issuing 2,000 notes.

The RBI began issuing the 2,000 note in November 2016, following Prime Minister Narendra Modi's abrupt cancellation of high-value 1,000 and 500 notes.

"The objective of introducing ₹ 2,000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of ₹ 2000 banknotes was stopped in 2018- 19," the RBI said in a statement.