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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