RBI in a circular on Friday announced that it will withdraw the circulation of Rs 2000 bank notes.
Rs 2000 Notes will remain legal tender.
Customers can exchange their Rs 2000 notes from other valuation notes from May 23, 2023 in banks.
RBI requested banks to open deposit and exchange facility for Rs 2000 notes from May 23.
The last date to exchange Rs 2,000 notes is September 30th.
A total of Rs 20,000 will be available to exchange in one go at a time.
RBI introduced Rs 2000 notes in 2016 after demonetization.
Thereafter, RBI has reduced the circulation of Rs 2000 notes gradually.
RBI stopped printing of Rs 2000 notes in 2018-19.
In the latest circular, RBI announced to end Rs 2000 bank notes by September 30 deadline.