RBI announced that the Rs. 2, 000 denomination notes will be withdrawn from circulation
Mumbai: The Reserve Bank of India (RBI) announced on Friday that the
Rs. 2, 000 denomination notes will be withdrawn from circulation. It also clarified that the Rs.2, 000 notes will continue to be recognized as legal tender, and that last date to exchange these notes is 30th September 2023.
Rs. 2 K notes will be exchange either in banks or in their business transactions. RBI in a statement said that the decision to introduce the Rs 2,000 banknotes was made in November 2016 to meet the immediate currency requirements of the economy after the withdrawal of the 500 and 1,000 banknotes, which had lost their legal tender status.
Considering these factors and in line with the Reserve Bank of India’s ‘Clean Note Policy,’ the decision has been taken to withdraw the Rs 2,000 banknotes from circulation. It is important to note that the Rs 2,000 banknotes will continue to hold their status as legal tender.