RBI Withdraws ₹2000 Note From India

[{"selector":"#anim-91314b5f-fb1a-4879-b4a4-dc8f3f9f16fe [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3e777e09-c6ec-4897-8de4-19bd17c6781a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8b59b8c5-ea8f-4817-9953-20b1d3513ddb","keyframes":{"transform":["translate3d(0px, 188.21549%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The Reserve Bank of India has decided to withdraw ₹2000 denomination banknotes from circulation but they will remain legal tender.

[{"selector":"#anim-58704e46-b824-457d-ba56-c3134f90e29b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-dc8bd4fc-ffe2-4fab-b79f-a7668926bb52","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-21520990-cd4c-4236-ba30-bb02248b1ee3","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram Banks have been advised to stop issuing ₹2000 denomination banknotes immediately.

[{"selector":"#anim-2c44ebe7-2c2f-4fbf-ac21-4f1bf356c73d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e8876719-5dee-4479-a0b2-06895893e81b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-06e537b8-673f-4601-9f4a-0d7aa5323a19","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The ₹2000 banknote was introduced in November 2016 to meet the currency requirement after the withdrawal of ₹500 and ₹1000 banknotes.

[{"selector":"#anim-1e769aac-4342-472a-890d-2e910e8d178d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-000502ed-1ded-405f-805b-908e02a67c8d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ee59a66d-e2d9-4a58-a523-0fd31508047c","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The ₹2000 currency note will continue to be legal tender after September 30.

[{"selector":"#anim-a4acc1d2-736b-45d2-898a-cddda43d3b0d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-f557efbe-6c58-42c7-9741-ca80fdf0ccc5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f179887e-aca3-4cac-94bd-d7a400aac2c2","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The RBI expects people to exchange their ₹2000 notes with banks within four months.

[{"selector":"#anim-859e7b83-d059-4492-bc5f-b79012f4ebd4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-e6bf83d9-a756-4113-ac09-4baf837a81e7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b6fe5fd4-6c5d-4bb8-896c-7e8aa9181616","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram Most of the ₹2000 notes in circulation are expected to be returned to banks by September 30.

[{"selector":"#anim-a0498e2d-68fe-4272-bd8f-f34b6eff5285 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-464e8de1-9a0f-44d2-8487-e261f1c9e8ed","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2d89e445-d638-4c08-9f8d-633e4bd54b4e","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The withdrawal of ₹2000 banknotes is a routine exercise by the RBI, and there is no need to panic.

[{"selector":"#anim-9067c40d-1238-40bb-9600-cb8e00b5d3b4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-0f22839f-4c27-48e1-9640-d691137c5739","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-31ba48d4-33df-4060-ad59-6067cb859628","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram According to sources, the objective of introducing ₹2000 banknotes has been fulfilled with the availability of other denominations.

[{"selector":"#anim-896bab9c-2384-4693-8ebb-ad73707bf125 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e5f3b1b1-3537-499f-90de-0ff8a413f5c1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a783713c-3719-455a-a0ba-e0b9dd9f4bac","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The printing of ₹2000 banknotes was stopped in 2018-19.

[{"selector":"#anim-3855669b-129c-4692-b21d-58f899f24117 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-6835cab0-eed4-4d72-89d4-a518981abe74","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-996e152f-560b-4844-be16-c08eca2c47a6","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram Around 89% of the ₹2000 banknotes were issued before March 2017 and have reached the end of their estimated lifespan.

[{"selector":"#anim-76feb1b1-567b-4ae7-a224-f5afb43c4574 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9ac35289-7719-4191-8ee5-b350853d7dee","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b24d4e7-c8da-4216-b2e2-8a3f0d6255ce","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The value of ₹2000 banknotes in circulation has declined significantly since its peak in 2018.

[{"selector":"#anim-ea137226-87a6-410b-a11d-039dd12de5d4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-fc6b30b2-b827-4fd7-84df-be4412552c8c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1fa55936-cf24-403f-a776-ecb0c1917436","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram It has been observed that the ₹2000 denomination is not commonly used for transactions.

[{"selector":"#anim-74f6fa91-61b2-4389-b773-71680958460a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-fbff33c1-04ff-4974-9702-05210994ba24","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c95fb60-7f7f-4c7d-955c-f2f0f0b48ca9","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The Reserve Bank of India states that there is an adequate stock of banknotes in other denominations to meet public demand.

[{"selector":"#anim-b3e9868f-9e7a-4803-ba8d-420282145cd2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-bfa44e5c-6c0a-45b5-959c-cfb962784a64","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aab03199-52e5-4ffb-a042-a8358d6f0d44","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The withdrawal of ₹2000 banknotes is in line with the "Clean Note Policy" of the RBI.

[{"selector":"#anim-4cd98ab0-ae59-46f0-a972-99d91fe1d96c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-afb470af-d1d1-4605-a5c3-02d95ebb86fb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0fe90df-2d40-4eab-8146-f9a2bf82cdd6","keyframes":{"transform":["translate3d(0px, 221.74939%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The RBI had previously withdrawn notes from circulation in 2013-2014.

[{"selector":"#anim-409e6b59-1a88-4877-97df-23a6e1486f12 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-8daf7781-6c4a-406f-b87a-afe96d5baeb8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-11a95315-e47d-46a9-9764-112b958f0f4f","keyframes":{"transform":["translate3d(0px, 166.53746%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The public can deposit ₹2000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch.

[{"selector":"#anim-de0e22fe-eb11-4db2-8564-056698116b53 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d9b62e7c-24b5-4f93-8074-1a4a72c56bd3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c57389b-d1c5-4a05-9346-911d385c2ebf","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram Deposits can be made without restrictions and according to existing instructions and statutory provisions.

[{"selector":"#anim-a1478023-6f15-4b42-97c8-a3ff8bfd5eb2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-301bf8b0-224a-43ac-a0e6-caabc68ac8ec","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-528f631a-1f77-4372-bf4e-2a90a7432d94","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram Exchange of ₹2000 banknotes for other denominations can be done up to a limit of ₹20,000 at a time at any bank from May 23, 2023.

[{"selector":"#anim-68cdc88c-6dbb-439c-8fdb-c7d7a0a6f564 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-5d964d68-2e85-4440-a3f7-a0ba9e7373e6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b015cad5-0ca0-440d-815a-170e9e3fd0e7","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram This measure aims to ensure operational convenience and avoid disruptions in regular bank activities.

[{"selector":"#anim-92a1c451-a324-409a-99ad-fc5fe593ef55 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-8fd4801c-0bf9-4519-b098-4ce05ca63734","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-308df8e2-372c-47aa-84ee-5eda25cbd6d6","keyframes":{"transform":["translate3d(0px, 185.40634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Source: Instagram The withdrawal of ₹2000 banknotes is part of the RBI's efforts to maintain an efficient currency system in the country.