RBI to withdraw Rs 2,000 notes from circulation.notes will continue to be legal.
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The Reserve Bank of India (RBI) on Friday announced to withdraw the Rs 2,000 denomination banknotes from circulation. However, the Rs 2,000 notes will continue to be legal tender.
The central bank has asked people to deposit the Rs 2,000 banknotes into their accounts and/or exchange them into banknotes of other denominations at any bank branch. Exchange facility for Rs 2,000 bank notes up to Rs 20,000 at a time would be available from May 23, said an RBI statement.
The RBI has asked banks to provide deposit and/or exchange facility for Rs 2,000 notes until September 30, 2023.Additionally, the RBI's 19 Regional Offices (ROs) with Issue Departments will also serve as exchange points until the end of September.
Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions.
The RBI has also advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect...
What your opinion on the demonetizationof 2000 rupees currency... Plz share your opinion in comment section...
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