RBI to withdraw Rs 2,000 notes from circulation; notes can be exchanged, deposited till September 30
In a surprise move the Reserve Bank on Friday announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.
Unlike the November 2016 shock demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender till September 30.
The Reserve Bank of India (RBI), however, did not say what would be the status of 2,000 notes in private hands after September 30. Earlier, the government had made it an offence to hold the demonetised Rs 500 and 1,000 notes after expiry of the deposit deadlines.
