Delhi: Reserve Bank has withdrawn Rs 2000 currency. RBI has stopped printing of Rs 2000 notes in the country.
Banks have been instructed not to issue Rs 2000 notes. As part of demonetisation, the Reserve Bank has instructed banks to stop issuing Rs 2,000 currency.
It is clear from the Reserve Bank's press release that the notes currently in hand will continue to be valid till September 30. Rs 2000 notes held by people should be returned to banks before September 30. The RBI also stated that a person can exchange only 20,000 rupees at a time in the bank.
In 2016, the Prime Minister announced the withdrawal of Rs 500 and Rs 1000 notes and replaced them with new Rs 2000 & Rs 500 notes. This move of the central government was in the name of banning black money. The 2000 notes issued on that day are being withdrawn by the Center after seven years.
According to Reserve Bank data, there were 33,632 lakh notes in the market in the financial year ended March 2018. 32,910 lakhs in 2019. The Reserve Bank had earlier stated that it has decreased by 27,398 lakhs in 2020.
Not a single note of Rs 2000 was printed in the financial year 2019-20. According to the note released by the Reserve Bank, the printing of new Rs 2000 notes has already been stopped.
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