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RBI discontinues circulation of ₹2000 note, to remain legal tender

The Reserve Bank of India (RBI) has decided to withdraw the ₹2000 banknotes from circulation, but they will still be considered as legal tender. Banks have been advised to stop issuing ₹2000 banknotes immediately.

The RBI has enough banknotes of other denominations to meet the public's currency requirements. As part of their "Clean Note Policy," the RBI will remove ₹2000 banknotes from circulation. But don't worry, these notes will still be accepted as legal tender.

The public can deposit ₹2000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch. Deposits can be made without restrictions, following existing instructions and applicable laws. Additionally, exchanges of ₹2000 banknotes for other denominations can be done up to a limit of ₹20,000 at a time, starting from May 23, 2023, to ensure convenience and avoid disruption at bank branches.

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