Rs 2000 notes are being withdrawn. You can deposit these notes in the bank till September 30. The Reserve Bank of India (RBI) announced on Friday, May 19, 2023 (Friday) to withdraw the Rs 2000 note into the system. This decision has been taken under the clean note policy. All banks will exchange 2000 rupee notes with other currencies in this policy.
Will 1000 Rupee Notes Be Issued?
RBI Governor Shaktikanta Das has said that no proposal has been issued yet to bring back the Rs 1000 note. There is a sufficient amount of other notes in the market. Rs 2,000 notes will remain legal tender till September 30. You can use this note legally. People have a chance to exchange notes till September 30.
Why Was The 2000 Rupee Note Out Of Circulation?
On this question, Shaktikanta Das said the share of Rs 2000 notes was less than the rest. The share of Rs 2000 notes is not more than 10 per cent. They were also not used for large-scale transactions. He also said the economy would have a minor impacty if the Rs 2000 note went out of circulation.
Will Any Higher Note Be Released?
Answering this question, the Governor said it had not been considered. There is no such proposal. The closure of a currency does not mean that another currency will be issued in its place.
Will The September 30 Deadline Be Extended?
RBI has set a deadline of September 30 for note exchange. It is expected that by September 30, people will deposit the 2000 notes. Those who are abroad will be given some concessions after September 30. People can exchange only 10 notes of Rs 2000 in a day.
