RBI to pull out Rs. 2,000 notes from active circulation

May 20, 2023 12:00 am | Updated 05:47 am IST - MUMBAI

Banks asked to provide deposit and/or exchange facility for these notestill September 30, 2023

The Reserve Bank of India (RBI) on Friday decided to withdraw Rs. 2,000 denomination banknotes from circulation in pursuance of its “Clean Note Policy”. However, the Rs. 2,000 notes will continue to be legal tender. A similar withdrawal of notes from circulation was undertaken in 2013-2014.

As in the days after demonetisation, the decision to withdraw Rs. 2,000 notes is also likely to strain the system besides creating anxiety and inconvenience to the public.

The central bank has advised the public to deposit Rs. 2,000 notes into their bank accounts and/or exchange them into banknotes of other denominations at any branch.

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