Page 8 - Currency Notes News Today

From its glitchy issuance in 2016 to the stopping of printing in 2018-19 and now finally to its recall, the Rs 2,000 note had a rough ride while in existence. All through the way, RBI has been sparing in its communication, leaving citizens with more questions than answers  

According to Gandhi, who handled RBIs currency management department, the introduction of the Rs 2,000 note in 2016 was a short-term tactical decision to quickly remonetise the economy post-demonetisation

RBI has given time till September 30, 2023 to deposit or exchange Rs 2,000 bank notes

Mumbai: The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank...

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.

The RBI has advised members of the public to deposit Rs 2,000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch.

The banknotes in Rs 2,000 denomination will continue to be legal tender, the RBi said in a release.

RBI did not specify a limit for depositing Rs 2,000 notes in bank accounts. Exchange of a maximum of Rs 20,000 (10 notes of Rs 2,000) for other currency notes will be allowed at a time.

Deadline September 30, the public can deposit notes in banks or 'exchange them into banknotes of other denominations'; no restrictions if deposited in personal account

'This move ultimately would reduce the quantum of black money and help tax collections to improve. Hence, it is a positive development for market,' says market expert G Chokkalingam