Rupees 2000 Indian Currency Notes Withdrawn from Circulation by RBI

RBI has decided to withdraw Rs. 2000 currency notes from circulation. The move has come in pursuance of the “Clean Note Policy” of the RBI. As per the press release by RBI dated 19th May 2023, circulation of Rs. 2000 currency notes in Indian Market has achieved the objective primarily to meet the requirement of the Indian Economy in an expeditious manner after demonetization in November 2016.

Some of the Key Facts about Rs. 2000 currency notes and latest move by RBI are as follows –

 

  • Printing of Rs. 2000 currency notes was stopped in 2018-19.
  • Around 89% of the Rs. 2000 currency notes were issued prior to March 2017, and thus are on the verge of the end of their lifespan of 4-5 years.
  • 2000 currency notes will continue to be a legal tender, however they need to be either exchanged or to be deposited in the bank latest by 30th September 2023.
  • 2000 currency notes can be exchanged from the bank upto a maximum limit of Rs. 20,000 at a time at any bank starting from 23rd May 2023.

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