₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

Last updated: 24 May 2023
Quick Summary
The Reserve Bank of India (RBI) has issued a notification regarding the withdrawal of ₹2000 denomination banknotes from circulation. While these notes are being withdrawn, they will continue to be accepted as legal tender. Banks are instructed to facilitate the exchange and deposit of these notes for the public, ensuring adequate facilities like shaded waiting areas and drinking water are available, especially during the summer months.

RBI/2023-24/33
DCM(Plg) No.S-239/10.27.00/2023-24

May 22, 2023

The Chairman / Managing Director/ Chief Executive Officer
All Banks

Dear Sir /Madam,

₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

In continuation to our circular DCM(Plg) No.S-236/10.27.00/2023-24 dated May 19, 2023 on the captioned subject, it is advised as follows:

2. The facility of exchange of ₹2000 banknotes across the counter shall be provided to the public in the usual manner, that is, as was being provided earlier.

3. Banks are advised to provide appropriate infrastructure at the branches such as shaded waiting space, drinking water facilities, etc. considering the summer season.

4. Banks shall maintain daily data on deposit and exchange of ₹2000 banknotes in the format given below and submit the same as and when called for.

Bank Name Date Amount of ₹2000 banknotes Exchanged Amount of ₹2000 banknotes Deposited Total Amount
         

5. Please acknowledge receipt.

Yours faithfully

(Suman Ray)
Chief General Manager in-Charge

FAQ :

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

The ₹2000 denomination banknotes are being withdrawn from circulation.

You can exchange or deposit your ₹2000 banknotes across the counter at bank branches in the usual manner.

Banks are advised to provide appropriate infrastructure such as shaded waiting space and drinking water facilities, considering the summer season.

Yes, banks are required to maintain daily data on the deposit and exchange of ₹2000 banknotes and submit it when requested.

 

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Notification No : RBI/2023-24/33 DCM(Plg) No.S-239/10.27.00/2023-24
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