Legal Notice Seeks Government Ban on Tk 1,000 Notes Within 15 Days

Legal Notice Seeks Government Ban on Tk 1,000 Notes Within 15 Days

<strong>A legal notice has reportedly been issued seeking government action to withdraw Tk 1,000 banknotes from circulation within 15 days, with the stated objective of curbing the circulation of unaccounted or “black” money.</strong>

What the legal notice seeks

According to the claim, the notice calls on the government to take steps against the continued use of Tk 1,000-denomination notes. The proposal is presented as a measure intended to make it more difficult to hold or transfer large amounts of unaccounted cash.

The notice reportedly gives the government <strong>15 days</strong> to take action.

Has Tk 1,000 notes been banned?

<strong>No government ban should be reported as having taken effect based solely on the legal notice.</strong>

A legal notice is a formal demand for action; it does not itself change the legal status of Bangladesh Bank currency. Any actual withdrawal or demonetisation of a banknote would require action through the competent government and monetary authorities.

Bangladesh Bank is the country's central bank and is responsible for issuing Bangladesh's banknotes.

Why would a ban be proposed?

Large-denomination currency can make it easier to store and move substantial amounts of cash. Proponents of withdrawing high-value notes can therefore argue that reducing their availability could make cash-based concealment of unreported wealth more difficult.

However, <strong>the effectiveness of such a measure in reducing illicit or unreported money would depend on implementation and broader enforcement</strong>, including taxation, financial monitoring and anti-money-laundering measures.

What happens next?

The reported 15-day period relates to the demand contained in the legal notice. It does <strong>not</strong> mean that Tk 1,000 notes automatically become invalid after 15 days.

Any change to the status of the notes would need to be officially announced by the relevant authorities.

Key points

• Issue: Legal notice seeking action against Tk 1,000 notes
• Requested action: Government ban/withdrawal of Tk 1,000 notes
• Time requested: Within 15 days
• Stated objective: Curb unaccounted/“black” money
• Current status: A legal demand is not the same as an implemented currency ban
• Important: Wait for an official government or Bangladesh Bank announcement before treating the notes as invalid