2000 Rupees Note News: The Reserve Bank of India (RBI) made a shocking announcement on Friday (May 19) evening that 2000 rupee notes will be taken out of circulation. Along with this, RBI has also given the time limit for these notes to be out of circulation. By September 30, people will have to go to the banks to exchange these notes. The process of exchanging notes will start from May 23. After all, 2000 rupee notes have been banned or returned? Let us clear this confusion.
2000 note was issued after 2016 note ban
People are reminded of the era of demonetisation after RBI’s announcement to demonetise Rs 2000 notes, when the Prime Minister Narendra Modi had announced Demonetisation. It was only after demonetisation of Rs 500 and Rs 1000 notes that the same year new Rs 2000 denomination notes were issued under section 24(1) of the RBI Act, 1934.
RBI told that the purpose of 2000 note is fulfilled
According to the press release issued by RBI, the purpose of issuing 2000 rupee note was to meet the currency requirement of the economy at that time. It was informed that this objective was achieved after adequate availability of banknotes of other denominations. Hence the printing of Rs 2000 notes was stopped in 2018-19.
2000 notes banned or back?
RBI’s press release also said that generally this denomination (2000) is not used for transactions. RBI has clearly said that it will withdraw Rs 2000 notes from circulation. It is clear from this that it has been decided to withdraw the 2000 rupee note from RBI, not to stop it. RBI has called this step as ‘clean note policy’.
RBI has said that the Rs 2,000 notes currently in circulation will continue to be legal tender. Banks of RBI have been asked to deposit these 2000 rupee notes till 30 September and give them the facility to exchange them. It has also said that banks should stop giving Rs 2,000 notes with immediate effect.
Rs 2000 note to be valid till September 30
It has been clarified that if someone wants to exchange two thousand rupee notes, then only 20,000 rupees i.e. 10 notes of 2000 can be changed at a time. Notes can be exchanged in any bank. Let us tell you that till September 30, the 2000 rupee note present in the market will remain valid and it can be used, but according to the announcement of RBI, it will be fine to change the notes till this date because after that they will be considered out of circulation.
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