RBI withdraws 2000 Rupee Denomination Banknotes from Circulation; Will Continue As Legal Tender

Indian and Global Economy

It has been decided to withdraw the 2000 rupees denomination Banknotes from circulation

The Banknotes In 2000 Rupees Denomination will continue to be Legal Tender; only fresh issue stopped.

Banks may exchange 2000 Rupees Banknotes upto a limit of 20,000 Rupees at a time

Reason stated is 2000 Rupee notes not commonly used for transactions; Other Currency denominations adequate to meet Currency needs of public

All Banks shall provide Deposit and/or Exchange facility for 2000 Rupee banknotes until September 30, 2023

No restrictions on deposit of 2000 Rupees notes into Bank Accounts

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Indian and Global Economy

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