RBI withdraws Rs 2000 notes from circulation under Clean Note Policy; To remain legal tender

RBI withdraws Rs 2000 notes from circulation under Clean Note Policy; To remain legal tender

• The Reserve Bank of India has decided to withdraw two thousand Rupees denomination banknotes from circulation under the “Clean Note Policy”. The 2,000 rupee notes, however, will continue to be legal tender.

• RBI has said members of the public may deposit 2,000 rupee banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch.

• In a statement, releasedthe Central bank stated that in order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the exchange of 2000 rupee banknotes into banknotes of other denominations can be made upto a limit of 20,000 rupees at a time at any bank starting from the 23rd of May, 2023.

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Published date : 20 May 2023 05:49PM