CURRENT AFFAIRS : BANKING & FINANCE
RBI to pull out 2,000 rupee notes from active circulation; Exchange/Deposit until September 30, 2023
- The Reserve Bank of India (RBI) has decided to withdraw the Rs 2000 denomination banknotes from circulation.
- It asked all to exchange these notes by September 30, 2023.
- The withdrawal is similar to a previous withdrawal of notes in 2013-2014 (and not the demonetization).
- RBI’s 19 regional offices and other banks will start taking ₹ 2,000 notes for exchange with lower denomination one from May 23, 2023 to on or before Sep 30, 2023 (4 months).
- In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of Rs 2,000 notes into notes of other denominations can be made up to a limit of Rs 20,000 at a time at any branch.
