Rs 2000 Note Withdrawn RBI Notice – Where & How to Exchange, Last Date

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If you are wondering that how 2000 notes are not available in the market and what happened with 2000 rupees bank notes, then we are here with all the doubts that are coming to your mind and what happened with this act by the government of India. What is the statement made under? RBI has also described 2000 rupees bank note withdrawal in the below section.

As per the latest information provided by RBI, Rs 2000, note will not last long and may be withdrawn from the market or may not be used by the public. Soon the Rs 2000 banknote will be out of circulation and will not be available for use for a long time.

Rs 2000 Note Withdrawn RBI Notice

RBI has given time till the last date of 30 September 2023 to deposit Rs 2000 notes in any bank instead of legal notes. Because RBI stopped the printing of Rs 2000 notes in the year 2018-19 and since then till now Rs 2000 note has not come into the market. During demonetization, the government printed Rs 2000 notes and provided them to all people in exchange for old Rs 500 and Rs 1000 notes to maintain the usage ratio. But some people have kept the Rs 2000 note as black money and due to this it is not coming into the market.

Hence RBI has decided to withdraw Rs 2000 notes from circulation and asked people to deposit Rs 2000 notes in their bank account or exchange them for other denomination bank notes in any bank branch till the last date. RBI has given a deadline of 30 September 2023 to deposit the 2000 rupee note without paying any extra charge. If you have a 2000 rupees banknote and want to deposit in a bank account then you can go to your bank branch in which you have a bank account and it will start depositing 2000 rupees notes from 23rd May 2023 and till 30th September 2023 will continue. There is plenty of time to exchange or deposit the 2000 rupee banknote in your bank account. More details can check from the below section.

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Rs 2000 Banknote Withdraw – How is it being done

As per the RBI Rules, Rs 2000 banknote had printed and introduced in 2016 under section 24(1) of the RBI Act 1934. The printing of Rs 2000 banknotes has been done due to maintaining the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknote circulation at that time. To serve that purpose and with the availability of banknotes of other denominations in sufficient quantity, the printing of ₹2000 banknotes was discontinued in 2018-19.

Most of the ₹2000 denomination notes were issued before March 2017 and are at the end of their expected life of 4-5 years. It is also observed that this denomination is not commonly used for transactions. In addition, the stock of banknotes of other denominations continues to be sufficient to meet the currency requirement. In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw ₹ 2000 denomination bank notes from circulation.

Rs 2000 Note Withdrawn RBI Notice - Where & How to Exchange, Last Date

Demonetization of Rs 2000 Banknote, Deadline & Limit

This is a big update from the Reserve Bank of India that the demonetization of Rs 2000 notes is going on and will soon remove all the circulation of Rs 2000 used in the market. As we have seen that Rs 2000 note has not been seen in the market for a long time and now RBI is preparing to remove it from the use of Member of Public Use. If you have Rs 2000 banknote then read this article carefully and know the RBI notice which is released recently about Rs 2000 notes not to be circulated in the market and you will get a Rs 2000 banknote. The banknote has to be deposited in the bank account or exchanged for legal bank notes which are currently in the market.

RBI announced on Friday that the Withdrawal of Rs 2000 banknotes from circulation and it will continue in the legal tender till 30th September 2023. The existing note in circulation could either be deposited in bank accounts or exchanged by the given last date by the people who have the Rs 2000 Notes in cash. RBI has given a statement and called all the banks to receive the Rs 2000 banknote or exchange it for other banknotes within the given deadline. RBI has also fixed a deadline to deposit or exchange the Rs 2000 banknote. Apart from this, RBI has also fixed a limit that bank account holders can deposit of exchange Rs 2000 Banknote. According to the RBI Notice, a maximum of Rs 20,000 can be deposit in the bank account at a time.

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How to Exchange Rs 2000 Banknote?

In order to ensure operational convenience and avoid disruption of regular activities of bank branches, with effect from May 23, Rs 2,000 banknotes can be exchanged for banknotes of other denominations at any bank to the extent of Rs 20,000 at a time. In order to complete the exercise in a time-bound manner and to provide sufficient time to the members of the public, the RBI has asked all banks to provide deposit and/or exchange facilities for Rs 2,000 bank notes by September 30, 2023.

In view of the above, and in pursuance of the ‘Clean Note Policy’ of the Reserve Bank of India, it has been decided to withdraw the Rs 2,000 denomination bank notes from circulation. Depositing Rs 2,000 bank notes into their bank accounts and/or exchanging them for other denominations at any bank branch is legally valid, as per the central bank’s cut-off date of 30 September 2023.

Netizens are sharing hilarious memes on this Rs 2000 Note RBI Demonetisation, here are some for your entertainment:-

Frequently Asked Questions

Is there a limit on the Deposit of Rs 2000 Banknote into a bank account?

Yes, RBI has decided that a maximum of Rs 20,000 can be deposited in a bank account in the form of Rs 2000 banknotes.

What is the Last date for Rs 2000 Banknote Deposit into Bank Account?

RBI has given a deadline regarding depositing the Rs 2000 Banknote till 30th September 2023.

Can I Exchange Rs 2000 Banknote for other banknotes?

Yes, if you have Rs 2000 banknote then can deposit or exchange it into a legal tender banknote within the given last date.

Does the legal tender status of Rs 2000 notes continue?

Yes, Rs 2000 banknotes will retain their legal tender status.

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