Page 13 - S 2000 Notes News Today

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.

In a statement, the Reserve Bank of India said it has asked banks to stop issuing Rs 2,000 notes with immediate effect

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

The RBI has asked everyone to exchange these notes by September 30,2023. The Rs 2,000 notes, however, will continue to be legal tender.

RBI has asked the banks to stop the circulation of Rs 2,000 denomination notes with immediate effect.

The RBI has said that the Rs 2,000 note will be legal tender till September 30, 2023.

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.

As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and Rs 2,000 denomination bank notes in circulation as at end-March 2017 and as at March-end 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore.

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