₹2000 note now just a piece of paper? clear all your confusions

₹2000 note now just a piece of paper?  clear all your confusions

The Central Reserve Bank has banned the 2000 rupee note. Now banks will not issue new Rs 2000 notes to customers. In such a situation, what should you do if you have 2000 rupee notes lying with you? Is the Rs 2000 note lying with you now just a piece of paper? We will answer all such questions of yours.

Question: I have 2000 rupee note, will it not work now?

Answer: It is not. According to the decision of the Reserve Bank, 2000 rupee notes are still in circulation. However, the Reserve Bank has also given a chance to the customers to exchange this note. You can change your 2000 rupee note into 100, 200 or 500 note by going to the bank.

Question: When will we be able to exchange the notes?

Answer: Rs 2000 notes can be exchanged in banks from May 23.

Question: How long is the chance to change?

Answer: RBI has asked banks to provide deposit and exchange facility of Rs 2,000 notes till September 30, 2023. This means that you can change the note by going to your bank branch. Its deadline has been fixed as 30 September. You have the chance till 30th September.

Question: How much amount can be exchanged at a time?

Answer: Only notes worth Rs 20,000 will be exchanged at a time. This means that the amount of Rs 2000 note up to Rs 20000 can be changed in one go.

Question: What has been said to the banks?

Answer: RBI has asked banks to stop issuing Rs 2,000 notes with immediate effect. Let us tell you that in November 2016, after removing the old notes of Rs 500 and Rs 1,000 from circulation, RBI had issued Rs 2,000 notes for the first time.

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