2000 Note Update: How To Change Rs 2,000 Notes? Know Limit, Process, Deadline, All Other Details

The Reserve Bank of India has once again taken a big decision. RBI has announced the withdrawal of Rs 2000 notes issued after the demonetisation of 2016. However, the 2000 notes present in the market will remain in circulation for the time being.

The Reserve Bank of India has advised banks to stop issuing Rs 2000 notes with immediate effect. RBI said that these notes will remain in circulation till 30 September. That is, those who currently have 2000 rupee notes, will have to exchange them from the bank.

RBI shared in the press release that in 2018-19 itself, the printing of Rs 2000 note had been stopped. In November 2016, after demonetisation, a note of 2000 thousand rupees was introduced. Notes of 500 and 1000 rupees were stooped in demonetisation.

Here are the updates regarding 2000 note

Notes up to 20 thousand rupees will be changed at a time. If you have 2000 notes then remember the date of 30 September. Earlier you can change this by visiting the bank. Till September 30, you will be able to change 2000 by going to your nearest banks. Instead, you will get another valid currency.

Special window to exchange notes in the bank

According to the guidelines of RBI, banks will have separate special windows to change 2000 notes, where you will be able to easily change 2000 notes.

According to an estimate, there are currently Rs 2000 notes in circulation worth Rs 3.62 lakh crore. Now it has to be seen how many notes come back to the bank.

Motive behind the closure of 2000 notes

BJP MP and former Deputy Chief Minister of Bihar Sushil Kumar Modi says that 2000 notes have been deposited by big people, common people do not have this note.

Big notes are not prevalent in countries like America-UK. India is also adopting the same. After this step whatever black money is in the market will come out. This decision has been taken to curb tater funding.

Significantly, after the announcement of Prime Minister Narendra Modi on November 8, 2016, all the notes of 500 and 1000 rupees were out of circulation.

In place of these currencies, the Reserve Bank had issued new notes of 500 and 2000 rupees. The Reserve Bank believed that the Rs 2000 note would easily compensate for the value of those notes which were put out of circulation.