Rs 2000 denomination notes were introduced in November 2016 under Section 24(1) of RBI Act, 1934.
Rs 2000 denomination notes were introduced in November 2016 under Section 24(1) of RBI Act, 1934.
As per RBI, Rs 2000 notes were introduced to meet the currency requirement in an expeditious manner after the demonetisation of Rs 500 and Rs 1000 banknotes in 2016.
As per RBI, Rs 2000 notes were introduced to meet the currency requirement in an expeditious manner after the demonetisation of Rs 500 and Rs 1000 banknotes in 2016.
As the objective of introducing Rs 2000 notes was met once banknotes in other denominations became available in adequate quantities, RBI stopped printing of Rs 2000 notes in 2018-19.
As the objective of introducing Rs 2000 notes was met once banknotes in other denominations became available in adequate quantities, RBI stopped printing of Rs 2000 notes in 2018-19.
About 89% of Rs 2000 notes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years.
About 89% of Rs 2000 notes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years.
Total value of Rs 2000 notes in circulation declined from Rs 6.73 lakh crore at its peak on March 31, 2018 to Rs 3.62 lakh crore, constituting only 10.8% of notes in circulation, on March 31, 2023.
Total value of Rs 2000 notes in circulation declined from Rs 6.73 lakh crore at its peak on March 31, 2018 to Rs 3.62 lakh crore, constituting only 10.8% of notes in circulation, on March 31, 2023.
Now, Rs 2000 notes are also not commonly used for transactions. Further, the stock of banknotes in other denominations is adequate to meet the currency requirement of the public, as per RBI.
Now, Rs 2000 notes are also not commonly used for transactions. Further, the stock of banknotes in other denominations is adequate to meet the currency requirement of the public, as per RBI.
The RBI has now decided to fully withdraw Rs 2000 notes from circulation. People can deposit or exchange their notes till September 30. But it will remain legal tender even after this date.
The RBI has now decided to fully withdraw Rs 2000 notes from circulation. People can deposit or exchange their notes till September 30. But it will remain legal tender even after this date.