Rs 2,000 Notes To Be Withdrawn, Exchange Them By September 30
RBI to withdraw 2,000-rupee banknotes from circulation
— The Reserve Bank of India said 2,000-rupee banknotes will be withdrawn from circulation as they constituted only 10.8 percent of notes in circulation as on March 31, 2023.
— Further, the note is not commonly used for transactions.
— The RBI has, however, said that banknotes of the 2,000-rupee denomination will continue to be legal tender.
— RBI said it has advised banks to stop issuing 2,000-rupee notes “with immediate effect”.
— However, the Central Bank said people can approach bank branches to deposit or exchange the 2,000-rupee bank notes held by them. This facility will be available till September 30, 2023.