Reserve Bank of India (RBI) Announces Withdrawal of ₹2,000 Notes

20-05-2023

Reserve Bank of India (RBI) announces the withdrawal of ₹2,000 denomination notes.

₹2,000 notes will remain valid until September 30.

Banks were advised to stop issuing ₹2,000 notes immediately.

Individuals in possession of ₹2,000 notes will need to exchange them at banks from 23 May.

The printing of ₹2,000 notes was discontinued in the fiscal year 2018-19.

The ₹2,000 note was introduced in November 2016 after the demonetization of ₹500 and ₹1,000 notes.

Demonetization aimed to curb black money and promote a cashless economy in India.

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