Top 7 reasons why Rs 2,000 notes withdrawn from circulation

The Rs 2000 denomination banknote was introduced in November 2016 after withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknote.

With fulfilment of that objective, printing of Rs 2000 banknotes was stopped in 2018-19.

Rs 2000 denomination notes are at the end of their estimated life-span of 4-5 years and are not commonly used for transactions.

This is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.

The public is requested to approach the bank branches or ROs of RBI from May 23, 2023 for availing exchange facility.

There are no fee to be paid for the exchange facility and it shall be provided free of cost.

A period of four months has been given for exchange of Rs 2000 banknotes. The public is encouraged to avail this facility at their convenience.