RBI Reserve Bank of India has decided to withdraw Rs 2,000 currency notes from circulation. However, the notes will continue as legal tender, the central bank said in a circular on Friday.
The RBI has advised banks to stop issuing Rs 2,000 currency notes with immediate effect. In a circular, the central bank said that all Rs 2,000 currency notes must be exchanged before September 30, 2023.
“To complete the exercise in a time-bound manner and to provide adequate time for the members of the public, all banks shall provide deposit and/or exchange facilities for Rs 2000 banknotes until September 30, 2023,” the RBI circular read.
