The Reserve Bank of India (RBI) has officially announced the withdrawal of Rs.2000 notes from circulation. This decision was anticipated as the RBI had previously indicated their intention to limit and discontinue the publication of these notes. Existing notes can be deposited or exchanged until September 30, as per the RBI statement.
This move was motivated by the limited usage of the Rs.2000 notes for transactions, with other denominations adequately meeting public currency needs.
The total value of these banknotes in circulation has significantly decreased since March 2018.
Today, the market remained largely unaffected.
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