RBI to withdraw 2,000-rupee banknotes from circulation
No need to panic read following and take action
- The Reserve Bank of India said 2,000-rupee banknotes will be withdrawn from circulation as they constituted only 10.8 percent of notes in circulation as on March 31, 2023
Further, the note is not commonly used for transactions.
- The RBI has, however, said that banknotes of the 2,000-rupee denomination will continue to be legal tender.
- RBI said it has advised banks to stop issuing 2,000-rupee notes "with immediate effect"
- However, the Central Bank said people can approach bank branches to deposit or exchange
the 2,000-rupee bank notes held by them. This facility will be available till September 30, 2023.
