Maharashtra News Flash
Buisness

With immediate effect, the RBI requests banks to cease printing the Rs 2,000 notes; their circulation will end as of this day

The Reserve Bank of India stated on Friday that it will stop issuing Rs 2,000 notes, adding that those now in use may be deposited in bank accounts or exchanged by September 30.
The RBI said in a statement that the bank notes with a face value of Rs 2,000 will remain legal currency.
The RBI said that beginning on May 23, 2023, exchanges of Rs 2,000 bank notes into bank notes of other denominations may be done at any bank up to a ceiling of Rs 20,000 at a time in order to maintain operational convenience and prevent interruption of routine operations of bank branches.
The RBI has instructed banks to immediately cease printing banknotes having a value of Rs 2,000.
Aside from that, starting on May 23, the 19 Regional Offices (ROs) of the RBI with issuing divisions will provide the option to swap notes worth up to 20,000 rupees each.
After all of the Rs 500 and Rs 1,000 bank notes that were in use at the time lost their legal tender validity, the Rs 2,000 denomination bank note was issued in November 2016 mainly to quickly address the financial needs of the economy.

Related posts

70 Hours Work Debate: Harsh Goenka Says Hybrid Is The Future, Saying 5-Day Office Week Is Dead

India is positioned to lead digital innovation with a booming digital economy and extensive usage of technology: American envoy Eric Garcetti

Admin

Prepare for the Honda D110 Dream Deluxe with this breakdown of features and specifications

Pune Breaks a Record In September, almost 16,000 homes were registered; what do buyers need from you?

Launched in India in 2023, the Honda CB300F is priced from Rs 1.70 Lakh

Complete Details: Tata Punch To Obtain Digital Instrument Cluster As Standard Throughout All Variants