Unveiling the Reason Behind RBI's Withdrawal of Rs 2,000 Notes

RBI Withdraws Rs 2000 Notes from Circulation; Existing Notes Remain Valid

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The Rs 2000 note was introduced in 2016 to meet currency demands after the withdrawal of Rs 500 and Rs 1000 notes. Printing of the note stopped in 2018-19.

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Due to low usage and sufficient availability of other denominations, the need for Rs 2000 notes has decreased.

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The exchange of Rs 2000 banknotes can also be made through business correspondents up to a limit of Rs 4000 per day for an account holder.

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RBI advises bank branch approach for depositing or exchanging Rs 2000 notes until Sept 30, 2023.

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Withdrawal of Rs 2,000 Notes Announced by RBI

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