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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.