Offering a clarification on the status of Rs. 2000 banknotes after 30 September 2023, RBI has said that the note will continue to be a legal tender and citizens can continue to use them. Individuals can accept them as payment or use them for their own transactions without any restrictions.
RBI, however, encourages people to deposit the notes in the bank so the notes can be taken out of circulation. The monetary regulator has called the move a routine exercise and urged people not to panic.
“Rs. 2000 currency note will remain legal tender after 30th September too. RBI expects that 4 month time is enough for people to exchange notes with the banks. Most of the Es. 2000 notes that are in circulation will return to banks within the given time frame of 30th September. This is a routine exercise of RBI, and people need not panic,” ANI quoted people familiar with the matter.