Why has the RBI withdrawn Rs 2000 notes?

The RBI has announced the withdrawal of the Rs 2000 denomination banknotes from circulation.

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The existing Rs 2000 notes will continue to be legal tender.

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The RBI advises the public to deposit or exchange their Rs 2000 banknotes at any bank branch.

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The printing of Rs 2000 notes was stopped in 2018-19 as other denominations became available in sufficient quantities.

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The withdrawal of the Rs 2000 notes is in line with the Clean Note Policy, which aims to provide good-quality currency with better security features.

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The Rs 2000 banknotes will maintain their legal tender status, and people can continue to use them for transactions.

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The RBI encourages individuals to deposit or exchange their Rs 2000 banknotes before September 30, 2023.

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After September 30, the status of the Rs 2000 notes has not been clarified by the RBI.

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