2023-05-20 02:29 PM IST | Mumbai
The Reserve Bank of India on Friday announced the withdrawal Rs 2,000 note, from circulation, adding that the notes will continue to be legal tender. It said the existing Rs 2,000 notes can be deposited or exchanged in banks until September 30, but with a limit “Rs 20,000 at a time”. The central bank advised the public to deposit Rs 2,000 notes — introduced during demonetisation in November 2016, into their bank accounts and/ or exchange them into notes of other denominations at any bank branch. It also advised banks to stop issuing Rs 2,000 notes with immediate effect. This decision received praise as well as criticism from political fronts.
