The Reserve Bank of India (RBI) announced on May 19, 2023, that it will withdraw 2000 rupee notes from circulation. The notes will continue to be legal tender, but they can only be exchanged or deposited at banks or RBI offices until September 30, 2023. After that date, any 2000 rupee notes in your possession will be invalid. The RBI has said that the decision to withdraw the 2000 rupee note is part of its "clean note policy". This policy aims to reduce the circulation of counterfeit and fake notes. The RBI has also said that the 2000 rupee note is not as commonly used for transactions as lower denomination notes. Watch Mr Maneet Pal Singh, Partner IP Pasricha & Co let you know what to do if you have any 2000 rupee notes. You should exchange or deposit them as soon as possible. You can do this at any bank or RBI office. You will not need to provide any ID or fill out any forms if you are exchanging or depositing up to 20,000 rupees. The RBI has said that it will be taking steps to ensure that there is no disruption to the economy as a result of the withdrawal of the 2000 rupee note. However, it is possible that there may be some short-term inconvenience as people exchange or deposit their notes. The RBI has also said that it will be issuing new 500 rupee notes in the coming months. These new notes will have new security features that will make them more difficult to counterfeit. Email - [email protected] Website - www.ippcgroup.com
