The Reserve Bank of India (RBI) on Friday announced to withdraw Rs 2000 note from circulation. The notes will continue to be legal tender till September 30.
To complete the exercise in a time-bound manner and to provide adequate time to the members of public, all banks shall provide deposit and/or exchange facility for Rs 2000 banknotes until September 30, 2023, the RBI said.
Separate guidelines have been issued to the banks.
The RBI has advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect.