New Delhi: Reserve Bank of India (RBI) has announced demonetisation of Rs 2,000 notes. However, the notes will continue to be legal tender till September 30, RBI said.
In a statement on Friday, the central bank said: “Following the Reserve Bank of India’s “Clean Note Policy”, it has been decided to withdraw the ₹2000 denomination banknotes from circulation. The ₹2000 denomination banknotes will continue to be legal tender. To complete the exercise within a specified period and public To give sufficient time to members, all banks will provide deposit and/or exchange facility for ₹2000 banknotes till September 30, 2023.”
Banknote of ₹2000 – withdrawn from circulation; Will proceed as legal tenderhttps://t.co/2jjqSeDkSk— ReserveBankOfIndia (@RBI) May 19, 2023
RBI has asked banks to provide deposit and exchange facility of Rs 2000 notes till September 30, 2023. In the statement, RBI clarified that exchange facility of Rs 2000 notes will be available from May 23
Starting May 23, 2023, Rs 2,000 banknotes can be exchanged into other denominations at any bank up to a limit of Rs 20,000 at a time. The Reserve Bank of India has advised banks to immediately stop issuing Rs 2000 banknotes. 2000 will continue to be legal tender.
RBI has introduced Rs 2000 notes after pricing
On September 8, 2016, the central government banned old notes of Rs 500 and Rs 1000 in a bid to curb black money. After that, the central government introduced new currency notes of Rs 500 and Rs 2000.
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