Rs 2000 notes to be removed from circulation !!! All you need to know.

On May 19,23 RBI said in a circular that Rs 2000 notes will be reomoved from circulation.

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What You Need to do

You can either deposit your Rs 2000 notes or exchange them at bank.

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This facility will be available from May 23,2023 to september 30,23.

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For depositing - There will be no limit!

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But for Exchanging - The limit will be only upto Rs 20,000/- at a time.

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Why Rs 2000 Note was introduced & Why it is being Removed?

Rs 2000 notes were basically introduced to meet the currency requirement of the economy when Rs 500 & Rs 1000 notes were withdrawan from circulation.

This objective was fulfilled when other denomination notes were made available in adequate quantities.

The Rs. 2,000 currency note will remain a legal tender until 30th September.

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