New Delhi: The Rs 2,000 notes will be withdrawn from circulation, Reserve Bank Of India (RBI) announced on Friday.
They will remain legal tender, a notification by RBI’s Chief General Manager Yogesh Dayal stated.
People can exchange Rs 2,000 notes by September 30.
RBI’s 19 regional offices will start taking Rs 2,000 notes for exchange with lower denomination notes from May 23.
Rs 2,000 banknotes may also be deposited into bank accounts and/or exchange them into banknotes of other denominations at any bank branch. Deposit into bank accounts can be made in the usual manner.
The RBI had started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped Rs 1,000 and Rs 500 notes overnight in a controversial demonetisation move.
