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Yet another jolt and surprise from Narendra Modi Government

MUMBAI, May 19, 2023 (TBINN)

In a surprise move, Reserve Bank of India today announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30, 2023 to either deposit such notes in accounts or exchange them at banks.

Learning a lesson from earlier debacle of November 2016 when demonetisation of old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender till September 30.l, 2023.

In a statement, the Reserve Bank of India said it has asked banks to stop issuing Rs 2,000 notes with immediate effect.

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