RBI to withdraw Rs 2,000 Note From Circulation

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Reserve Bank of India on Friday has decided to withdraw Rs 2,000 bank note from circulation. However, RBI said bank notes of Rs 2,000 denomination will continue to be legal tender.

Reserve Bank of India explained the rationale behind the move being “banknotes in other denominations are available in adequate quantities”.

“Members of the public can continue to use Rs 2,000 banknotes for their transactions and also receive them in payment. However, they are encouraged to deposit and/or exchange these notes on or before September 30, 2023,” said RBI.

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