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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