Wednesday, June 7, 2023 11:34 am

Rs 2000 Notes to be Withdrawn :RBI

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According to central bank , the citizens can swap or deposit the 2000 notes they have in their possession into their bank accounts. Starting on May 23, the 19 regional offices of the Reserve Bank of India (RBI) and other institutions would accept Rs 2,000 notes in exchange for notes of lower denomination. According to the RBI, they will continue to be accepted as legal money.

All banks have been instructed by the RBI to stop issuing the 2,000 note right away.
As the goal of launching 2,000 Rupees notes was achieved after sufficient supplies of notes in other denominations became available. As a result, the printing of 2000-rupees banknotes was discontinued in 2018–19, according to a statement from the RBI.

Starting on May 23, 2023, any bank would be able to exchange up to 20,000 rupees worth of currency for notes of other denominations, the RBI announced, “to ensure operational convenience and prevent disruption of regular activities of bank branches.”

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