<h5>When was the 2000-rupee note introduced?</h5><p>Do you remember the demonetisation in 2016? The government announced that the old 500 and 1000-rupee notes would be discontinued. People stood in lines in front of banks to change their old currency notes.</p><p>The Reserve Bank of India (RBI) introduced the 2000-rupee note in November 2016 following the <a target="_blank" rel="noopener noreferrer" href="https://www.newsahoot.com/articles/what-is-demonetisation-and-how-does-it-affect-everyone">demonetisation</a>. It was introduced as the old 500 and 1000-rupee notes that were in circulation were withdrawn. The 2000-rupee note was introduced to address the currency requirements of the country following the effects of demonetisation.</p><p>Once other currency notes became available in sufficient quantities, the RBI stopped printing 2000-rupee notes. Printing was halted in 2018-19. Recently, RBI announced that 2000-rupee notes would be discontinued.</p><figure class="image"><img src="https://firebasestorage.googleapis.com/v0/b/newsahoot.appspot.com/o/2000-rupee-note-discontinued%2FQueue_at_Bank_to_Exchange_INR_500_and_1000_Notes_-_Salt_Lake_City_-_Kolkata_2016-11-10_02103.jpg?alt=media&amp;token=c85922dc-6011-4029-a5b9-53d8174aa761"><figcaption>&nbsp;Queue outside a bank to exchange the 500 and 1000-rupee notes during demonetisation in 2016. Photo by Wikimedia Commons / CC BY 3.0</figcaption></figure><h5>Why has the RBI discontinued the 2000-rupee notes?</h5><p>RBI says the issued 2000-rupee notes have already reached the end of their expected lifespan of 4-5 years. Also, this currency is not widely used for transactions. It is difficult to get change for a 2000-rupee note. People mostly avoid using it.</p><p>Also, the stock of other banknotes like the 500, 200, and 100-rupee notes has increased. Most people also prefer them more than the 2000-rupee note. Considering all of these and keeping in line with RBI’s "Clean Note Policy," the organisation has decided to withdraw the 2000-rupee notes.</p><h5>What is the clean note policy of the RBI?</h5><p>This policy aims to provide Indian citizens with high-quality currency notes and coins with improved security measures. Under this policy, old, spoiled, and filthy notes are removed from circulation.</p><p>This policy also helps reduce the spread of counterfeit cash in the country as people and banks are encouraged to change old and spoiled currencies with new ones. Under this policy, RBI withdrew all currency notes issued before 2005 from circulation in 2014. They did so as those notes had fewer security measures than banknotes created after 2005.</p><p>Now, RBI has asked the public to change their 2000-rupee notes and has issued specific guidelines for doing so.</p><h5>How can someone change their 2000-rupee notes?</h5><p>From 23rd May 2023, people can exchange their 2000-rupee notes at their bank or the regional offices of the RBI. They can deposit or exchange these currency notes till 30th September 2023. A person can exchange 2000-rupee notes for other notes up to a limit of Rs. 20,000 at a time.</p><p>Citizens can exchange their notes at any bank, whether they have an account in that bank or not. The RBI has also asked all banks to stop issuing 2000-rupee notes to customers. People should also keep in mind that the 2000-rupee notes are still legal tender. They can continue to use them in their transactions and accept them as payment for now.</p><p>But RBI is encouraging everyone to deposit or exchange them by 30th September 2023. The RBI has not stated what would happen to these notes after 30th September. So, one must watch RBI’s <a target="_blank" rel="noopener noreferrer" href="https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx">website</a> for any further instructions.</p>

Citizens can exchange the 2000-rupee notes at any bank from 23rd May 2023 to 30th September 2023.

2000 Rupee Note Discontinued

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2000 Rupee Note Discontinued

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