The Central Reserve Bank will withdraw the Rs 2,000 note from circulation but it will remain legal tender. The Reserve Bank has asked banks to allow deposit and exchange of Rs 2,000 notes by September 30, 2023.
Along with this, the Central Reserve Bank has asked the banks to stop giving Rs 2,000 notes with immediate effect. According to the Reserve Bank, from May 23, notes of Rs 2,000 to Rs 20,000 can be exchanged in banks in one go.
What you should do: If you have 2000 rupee notes then there is no need to take tension. This note is still valid. However, after the implementation of the decision of the Reserve Bank, you will not be able to withdraw new notes of Rs 2000 from the bank or ATM. Along with this, you will also have to exchange the old Rs 2000 notes lying with the bank. For this, the Reserve Bank has given a deadline of 30 September. What will happen after this, RBI has not said anything yet.
Will be able to change 20 thousand rupees: According to the order of the Reserve Bank, by September 30, you will be able to go to the bank and change the currency of 2000 rupees up to 20,000 rupees. You can make this change by visiting any branch of your bank.
It was started at the time of demonetisation: Tell that on November 8, 2016, the central government had announced demonetisation. After this, old notes of Rs 500 and Rs 1000 were banned. In return, the Central Reserve Bank introduced new notes of Rs 500 and Rs 2000 notes. However, within a few years, the circulation of Rs 2000 notes decreased and most of the ATMs disappeared from these notes. Now the Reserve Bank has announced to withdraw.
According to the Reserve Bank, the printing of ₹ 2000 bank notes was stopped in the financial year 2018-19. About 89% of the ₹2000 denomination banknotes were issued before March 2017.
