RBI has decided to withdraw the Rs 2,000 denomination banknotes from circulation With Immediate Effect
Central bank has said that the currency notes will continue to be legal tender till September 30.
RBI has asked banks to provide deposit and/or exchange facility for Rs 2,000 notes until September 30, 2023.
Members of the public will be allowed to deposit Rs 2,000 banknotes into their bank accounts
Exchange of Rs 2000 banknotes into banknotes of other denominations can be made upto a limit of Rs 20,000.at a time at any bank starting from May 23, 2023.
Deposit into bank accounts can be made without restriction
The facility to exchange Rs 2,000 banknotes upto the limit of Rs 20,000 at a time will also be provided at the 19 Regional Office
The Exchange of notes will Also be provided by RBI
RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014.