The Reserve Bank of India (RBI) has announced the withdrawal of Rs 2000 currency notes from circulation
According to the RBI, the existing Rs 2000 notes in circulation will remain valid until September 30
However, no new notes of this denomination will be printed
The Rs 2000 banknote will continue to maintain its legal tender status
Public can continue to use Rs 2000 banknotes for their transactions and receive them as payment. However, it is encouraged to deposit and/or exchange these banknotes on or before September 30, 2023
The public can approach bank branches to deposit and/or exchange their Rs 2000 banknotes
This facility will be available at all banks until September 30, 2023, and also at the 19 Regional Offices (ROs) of RBI with Issue Departments
Deposits into bank accounts can be made without restrictions, subject to compliance with KYC norms and other applicable statutory/regulatory requirements