Rs 2,000 notes to be withdrawn, exchange them by this time
The Reserve Bank of India’s (RBI) 19 regional offices will start taking Rs 2,000 notes for exchange with lower denomination notes from May 23, according to media reports.
The RBI has said it will withdraw Rs 2,000 notes from circulation and people can exchange them by September 30.
“The objective of introducing Rs 2,000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, printing of Rs 2,000 banknotes was stopped in 2018- 19,” the RBI said in a statement.
“In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of Rs 2,000 banknotes into banknotes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23, 2023,” the RBI said.