The Reserve Bank of India (RBI) has recently announced that it will withdraw the Rs 2,000 denomination banknote from circulation but it will continue as legal tender.
In a statement, the RBI said, "The 2,000 denomination banknote was introduced in November 2016 primarily to meet the currency requirements of the economy in an expeditious manner after the withdrawal of the legal tender status of all 500 and 1,000 banknotes in circulation at that time."
People can go to their local bank offices to deposit and/or exchange their 2000 rupee notes, according to the RBI.
“The facility for deposit into accounts and exchange for ₹2000 banknotes will be available at all banks until September 30, 2023. The facility for exchange will be available also at the 19 Regional Offices (ROs) of RBI having Issue Departments1 until September 30, 2023." the RBI's official statement noted.
Exchange Rs 2,000 notes: Check the step-by-step guide
Step 1: As of May 23, 2023, visit your bank to deposit or exchange Rs 2000 notes. Give account information if you have an account with that branch or bank.
Step 2: To exchange of Rs 2000 notes, fill out the "Request Slip" for exchange. After providing identity information, enter the information for the Rs. 2000 note to be exchanged.
Step 3: Send in the application form and Rs. 2000 notes to the nearby bank to exchange them.
