RBI Withdraws ₹2,000 Currency Notes: All You Need to Know About it

[{"selector":"#anim-8d3478b6-5aab-4fbc-b591-dd2a9a450fe4","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.01)","offset":0.33},{"transform":"scale(0.999)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":3000,"easing":"ease-in-out","fill":"both","iterations":1}] RBI Withdraws ₹2,000 Currency Notes: All You Need to Know About it

[{"selector":"#anim-66089032-42fd-4885-9d68-1eb201c62e05 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Reserve Bank of India has announced the withdrawal of ₹2,000 currency banknotes, retaining legal value only for existing notes in circulation.

[{"selector":"#anim-ace25f5f-a9d2-4541-996b-874b42f44e6c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Why RBI Decided to Withdraw ₹2,000 Banknotes? RBI introduced ₹2,000 notes in 2016 to meet the currency requirement during demonetization. Printing stopped in 2018-19 when the objective was completed.

[{"selector":"#anim-b8d8843e-542b-4dec-8141-f097b0c19190 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Also About Clean Note Policy The Clean Note Policy ensures circulation of healthy currency with new security features. RBI withdrew pre-2005 notes due to inadequate security features.

[{"selector":"#anim-2fdceaf9-9720-4fb5-b2e6-0b4885b55e13 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Will the ₹2000 Banknotes Lose Their Legal Status? 2000 banknotes remain legal; transactions and payments with them are valid. RBI advises citizens to exchange or deposit them by September 30, 2023.

[{"selector":"#anim-5b10fb74-215d-406a-bce5-dfb98f7e552e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] What Will Happen to ₹2,000 Banknotes After September 30? The regulator, RBI, has not yet disclosed what will happen to the ₹2,000 banknotes after September 30. However, experts believe that the instructions will be cleared before the deadline.

[{"selector":"#anim-10df5eb0-5230-42e0-8290-a56908ab693d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] What is the Limit for Exchanging the ₹2,000 Banknotes? RBI allows the public to exchange up to Rs 20,000 in Rs 2,000 notes at once (10 notes). Through business correspondents, the limit is Rs 4,000 (2 notes).