The Reserve Bank of India (RBI) has declared the withdrawal of Rs 2,000 currency notes from circulation. The existing notes can be either deposited in bank accounts or exchanged until September 30. It’s important to note that the Rs 2,000 denomination banknotes will still be considered legal tender.
To ensure smooth operations and prevent disruptions in bank branches, the RBI has specified that the exchange of Rs 2,000 banknotes for notes of other denominations can be conducted at any bank. However, there is a limit of Rs 20,000 per transaction, starting from May 23, 2023.
The RBI has also instructed banks to halt the issuance of Rs 2,000 denomination banknotes immediately. Furthermore, the 19 Regional Offices (ROs) of the RBI, which have issue departments, will offer the facility to exchange Rs 2,000 banknotes up to the limit of Rs 20,000 per transaction starting from May 23.
The introduction of the Rs 2,000 denomination banknote took place in November 2016 as an expedient measure to meet the currency demands of the economy after the demonetisation of all Rs 500 and Rs 1,000 banknotes that were in circulation at the time. (With inputs from PTI)
Biogas plant to process 100 TPD cattle waste in Civil Lines, aiming to curb Yamuna…
Two arrested after robbing Rs 10.65 lakh at gunpoint from a factory worker in Shastri…
Delhi rolls out multi-level plan with Centre, ramps up enforcement and PNG push as LPG…
TAF-led team of disabled and non-disabled participants aims to challenge barriers and redefine inclusive adventure…
Doctors at Sir Ganga Ram Hospital used a laser-assisted endoscopic procedure to safely remove a…
A woman was allegedly confined and assaulted by three women in Burari after being accused…
