The Reserve Bank of India has announced the removal of 2,000-rupee banknotes from circulation. This decision was made because these notes accounted for only 10.8 percent of the total notes in circulation as of March 31, 2023, and they are not commonly used for transactions. Despite this withdrawal, the RBI has clarified that the 2,000-rupee banknotes will still be considered legal tender. The RBI has instructed banks to cease issuing these notes immediately. However, individuals can still deposit or exchange their 2,000-rupee banknotes at bank branches until September 30, 2023.
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Official Notification:
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