Top 7 reasons why Rs 2,000 notes withdrawn from circulation

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Why are Rs 2000 banknotes being withdrawn?

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. Image credits: Getty

When were printing of Rs 2000 banknotes stopped?

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

What is the estimated life-span of Rs 2000 banknotes?

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

What is Clean Note Policy?

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

From which date will the exchange facility be available?

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

Is there any fee to be paid for the exchange facility?

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

What happens if one could not exchange Rs 2000 banknote?

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. Image credits: Getty Find Next One