Meme Fest Starts As RBI Announces To Withdraw Rs 2000 Bank Notes From Circulation | Personal Finance News

New Delhi: The Reserve Bank of India (RBI) has announced the withdrawal of Rs 2,000 currency notes. However, these notes will remain legal tender until September 30, according to the RBI. As part of its “Clean Note Policy,” the RBI has decided to remove the ₹2000 denomination banknotes from circulation. Banks will offer deposit and/or exchange services for ₹2000 banknotes until September 30, 2023, allowing sufficient time for the public to complete the process.

RBI has requested banks to provide deposit and exchange facility of Rs 2000 notes until September 30, 2023. In the statement, RBI clarified that exchange facility for Rs 2000 bank notes would be available from May 23. Exchange of Rs 2000 banknotes into other denominations can be made upto a limit of Rs 20,000 at a time at any bank starting from May 23, 2023. Reserve Bank of India has advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect though banknotes in Rs 2000 denomination will continue to be legal tender. RBI Introduced Rs 2000 Notes After Denomination On September 8, 2016, Central government banned old currency notes of valuation of Rs 500 and Rs 1000 with the aim to stop black money. Thereafter, the central government brought new notes of the valuation of Rs 500 and Rs 2000

MemeFest Starts After The Annoucement

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