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The RBI on Friday said that it had withdrawn Rs 2,000 currency notes but the note will remain a legal tender. It has asked people to deposit/exchange the currency till September 30, 2023.
"The facility of Rs exchange of Rs 2,000 to all members of the public upto a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip," the bank said in a circular dated May 20.
While large traders with major cash pile to get hit, most smaller retailers are hoping for a buying spree among consumers with a pool of cash
If the RBI itself will stop exchanging the Rs 2000 note, will it still be legal tender in practical terms from October 1st onwards? Can one still use it for buying goods and services? Can people refuse to accept it?
Rs 2000 Note News: The Reserve Bank of India (RBI) on Friday announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. However, the Rs 2,000 notes will continue to be a legal tender till September 30., Personal Finance News, Times Now