The Reserve Bank of India has decided to stop issuing currency in the value of Rs. ₹2,000 and has ordered everyone to swap or deposit them by September 30, 2023.
In a statement issued on Friday, the central bank said: "In accordance with the Reserve Bank of India's "Clean Note Policy," it has been decided to remove the denomination ₹2,000 banknotes from circulation. The ₹2,000-denomination bills will still be accepted as legal money. All banks must offer a deposit and/or exchange service for ₹2,000 banknotes until September 30, 2023, in order to finish the exercise on schedule and give the people enough time.About 89% of the banknotes in the denomination of ₹2,000 were printed before March 2017 and are being replaced, the RBI explained in a statement.
