RBI | Rs 2000 Notes to be Withdrawn from Circulation but Remain Legal Tender



Quick Summary
The Reserve Bank of India (RBI) has announced the withdrawal of Rs 2000 denomination banknotes from circulation. While these notes will no longer be issued by banks, they will continue to be legal tender. The RBI has advised the public to deposit or exchange these notes at bank branches by September 30, 2023.

Rs.2000 Denomination Banknotes Withdrawal from Circulation; Will continue as Legal Tender The Rs.2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdra
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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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FAQ :

The Rs 2000 notes were introduced to meet currency needs after the withdrawal of Rs 500 and Rs 1000 notes in 2016. Their objective has been met, and they are not commonly used for transactions. Most of these notes are also nearing the end of their estimated lifespan.

Yes, Rs 2000 denomination banknotes will continue to be legal tender.

You can deposit your Rs 2000 banknotes into your bank account or exchange them for other denominations at any bank branch.

Yes, you can exchange Rs 2000 banknotes for other denominations up to a limit of Rs 20,000 at a time at any bank.

You can deposit or exchange Rs 2000 banknotes until September 30, 2023.

Yes, the facility to exchange Rs 2000 banknotes up to a limit of Rs 20,000 at a time will also be available at the 19 Regional Offices of the RBI from May 23, 2023.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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