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The INR2000 note will remain legal tender, but Indian citizens have been notified by the RBI to deposit or exchange these notes

This announcement from the banks comes at the time when there is a lot of misinformation going around on social media.

You have from May 23 to Sept 30 to deposit these notes in your bank account or exchange them for other denominations. But you can exchange only 10 notes at a time. Why has the RBI done this?

As on March 31, 2018, Rs 2,000 notes worth Rs 6,73,000 crore were available in the market, accounting for 37.3 percent of the total currency circulation.

The Rs 2,000 denomination banknote was introduced in November 2016 primarily to meet the currency requirement of the economy after the withdrawal of the legal tender status of all Rs 500 and Rs 1,000 banknotes

Here is Everything You Need to Know about Rs 2000 Notes being Withdrawn.....

India will withdraw the 2000-rupee note from circulation, and citizens must deposit or exchange these notes by Sept. 30, 2023.

INDIA, May 19: The Reserve Bank of India (RBI) on Friday announced that Rs 2,000 notes will only stay on as legal tender, and it would be discontinued from circulation.

The Reserve Bank of India (RBI) on May 19 said it is withdrawing Rs 2,000 notes from circulation based on a review. However, the banknotes of Rs 2,000 denomination will continue to be legal tender, the central bank said in a release.

RBI has announced to wtihdraw Rs 2000 denomination notes from circulation. It has requested banks to exchange/ deposit Rs 2000 notes from May 23, 2023.