RBI withdraws Rs 2000 notes - What Should You Do With Your Notes - Know here

The Central bank has said it will withdraw ₹ 2,000 notes from circulation and people can exchange or deposit them in their bank accounts by September 30. The Reserve Bank of India's (RBI) 19 regional offices and other banks will start taking ₹ 2,000 notes for exchange with lower denomination one from

May 23. They will remain legal tender, the RBI said. 

Also Read :- BIG Update on On Exchange Of ₹ 2,000 Notes at SBI

The RBI has told all banks to stop issuing ₹ 2,000 notes immediately.

The RBI started printing the ₹ 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value ₹ 1,000 and ₹ 500 notes overnight.

"The objective of introducing ₹ 2,000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, printing of ₹ 2000 banknotes was stopped in 2018- 19," the RBI said in a statement.

"In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹ 2,000 banknotes into banknotes of other denominations can be made up to a limit of ₹ 20,000 at a time at any bank starting from May 23, 2023," the RBI said.

How to change your 2000 notes with bank

The central bank said people can deposit or exchange for lower denomination notes till September 30 for up to ₹ 20,000 at a time.

RBI STATEMENT Regarding Withdrawing 2000 Notes is HERE

The RBI may extend the deadline from September 30 if needed, but even if anyone has a ₹ 2,000 note after the current deadline, it will remain a valid tender, sources told NDTV today.

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