Reserve Bank of India (RBI) on Friday mentioned it will withdraw Rs 2000 currency note from circulation. But, the note will continue to be legal tender, it added. Exchange them by September 30, 2023, mentioned RBI. The facility for change of Rs 2,000 financial institution notes up to the restrict of Rs 20,000 at a time will be supplied on the 19 Regional Offices (ROs) of the RBI having challenge departments from May 23.
RBI suggested banks to cease issuing Rs 2000 denomination banknotes with fast impact although banknotes in Rs 2,000 denomination.
The Reserve Bank of India on Friday introduced withdrawal of Rs 2,000 currency notes from circulation, and present notes in circulation can both be deposited in financial institution accounts or exchanged by September 30.
What RBI mentioned
In order to guarantee operational comfort and to keep away from disruption of normal actions of financial institution branches, the RBI mentioned change of Rs 2,000 financial institution notes into financial institution notes of different denominations can be made up to a restrict of Rs 20,000 at a time at any financial institution beginning from May 23, 2023.
The RBI has suggested banks to cease issuing Rs 2,000 denomination banknotes with fast impact.
The 2000-rupee banknote was launched by the RBI on 8 November 2016 after the demonetisation of Rs 500 and Rs 1000 banknotes. It was in circulation since 10 November 2016.
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