₹2,000 notes withdrawn: What should you do if you have ₹2,000 notes?

The Reserve Bank of India (RBI) issued a press release on May 19, 2023, advising banks to stop issuing banknotes with a value of ₹2,000 notes immediately.

In light of the foregoing and in accordance with the Reserve Bank of India's "Clean Note Policy," it has been decided to stop issuing banknotes with the denomination of ₹2,000 notes.

How can you exchange your ₹2,000 notes?

The public can swap ₹2,000 notes up to a maximum of ₹20,000 rupees at once.

Through business correspondents, an account holder may exchange up to ₹40,000 worth of currency per day.

From May 23, 2023, the general public can to go to the bank branches or RBI ROs to avail the currency exchange.

Any bank branch will allow non-account holders also to swap ₹2,000 banknotes up to a maximum of ₹20,000 at once.

Account deposits are permissible without limitations. The ₹2,000 banknotes can be deposited into bank accounts, and any subsequent withdrawals of cash are free of charge.

All banks will offer the option to deposit money into accounts and exchange the ₹2,000 banknotes till September 30, 2023.