After being introduced in 2016, it’s time to bid farewell to Rs. 2,000 notes. Read More>>
RBI ordered the withdrawal of Rs 2,000 notes by September 30, citing reduced usage and adequate denominations.
Rs 2,000 notes were introduced in 2016, printing stopped in 2018–19, and now it has been withdrawn.
By August 31, 93% of withdrawn notes were returned to banks, leaving about 7% still in public hands.
After September 30, notes remain legal but can't be used for transactions, only exchanged with RBI, with an explanation.
Indians rush to return Rs 2,000 notes before the imminent deadline. If you have any Rs. 2,000 notes, the time to act is now.
Source: Economic Times