The Shocking Truth About the 2000 Note Ban!

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

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

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

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

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

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

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

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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