The Shocking Truth About the 2000 Note Ban!

The 2000 note was introduced in November 2016 after the demonetization of 500 and 1000 notes.

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The note was meant to meet the currency requirement of the economy expeditiously.

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The printing of the 2000 note was stopped in 2018-19 as other denominations became available in adequate quantities.

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The RBI said that most of the 2000 notes were issued before March 2017 and are at the end of their estimated lifespan.

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The public can deposit or exchange the 2000 notes into their bank accounts or other denominations at any branch till September 30, 2023

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The exchange limit is 20,000 rupees at a time at any bank or RBI regional office.

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The banks have been advised to stop issuing the 2000 notes immediately.

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The RBI said that the withdrawal of the 2000 notes would improve the deposits accretion of banks and reduce tax evasion and hoarding.

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