Unveiling the Reason Behind RBI's Withdrawal of Rs 2,000 Notes
RBI Withdraws Rs 2000 Notes from Circulation; Existing Notes Remain Valid
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.
Due to low usage and sufficient availability of other denominations, the need for Rs 2000 notes has decreased.
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.
RBI advises bank branch approach for depositing or exchanging Rs 2000 notes until Sept 30, 2023.
Withdrawal of Rs 2,000 Notes Announced by RBI