The Reserve Bank of India (RBI) has announced the withdrawal of ₹2,000 notes from circulation. People can exchange or deposit these notes in their bank accounts until September 30. Starting from May 23, the RBI's regional offices and other banks will accept ₹2,000 notes in exchange for lower denomination ones. The notes will continue to be legal tender. The RBI stopped printing ₹2,000 notes in 2018-19 after achieving their intended objective. Exchange of ₹2,000 notes for lower denominations can be made up to ₹20,000 at a time at any bank. The RBI has instructed banks to cease issuing ₹2,000 notes immediately. The decision to withdraw the notes is due to their limited usage and nearing the end of their estimated lifespan.





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