The Reserve Bank of India (RBI) has announced that it will withdraw the Rs 2000 denomination banknotes from circulation. The decision was taken at a meeting of the RBI’s Central Board of Directors on May 18, 2023.
The notes will continue to be legal tender till September 30, 2023, after which they will cease to be legal tender.
The RBI has not yet announced what will happen to the old Rs 2000 notes after September 30, 2023. However, there are a few possibilities:
- The notes could be destroyed.
- The notes could be recycled.
- The notes could be converted into new Rs 2000 notes.
The RBI is likely to make a decision on the future of the old Rs 2000 notes in the coming months.
In the meantime, people who have old Rs 2000 notes are advised to deposit them in their bank accounts or exchange them at RBI offices before September 30, 2023.