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The future of Rs 2000 note will depend on whether RBI is successful in getting back all the Rs 2000 notes that's currently circulating in the economy.
The RBI on Friday announced the withdrawal of Rs 2,000 banknotes from circulation and set a deadline of September 30 for the public to exchange or deposit the banknotes.
The Secretary’s comment comes after the RBI announced that the maximum limit of exchanging is Rs 20,000 in one go. This means that a person can exchange 10 Rs 2,000 banknotes at one time.
Rs 2,000 notes withdrawn: Another thing to keep in mind is that you don’t need to be an account-holder to exchange banknotes.
Rs 2,000 banknotes withdrawn: The petroleum dealers' association said that before the withdrawal of Rs 2,000 notes, petrol pumps used to get 10 per cent of their cash in the form of Rs 2,000 notes, which has now jumped to 90 per cent.