The RBI (Reserve Bank of India) has decided to withdraw ₹2000 denomination banknotes from circulation however, will continue to be legal tender. The RBI, in a notice on 19 May 2023, Friday, said that all Rs 2,000 currency notes must be exchanged before September 30, 2023. The exchange facility of ₹2000 notes will be available from 23 May 2023 to 30 September 2023.
RBI said members of the public may deposit Rs 2,000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch. The exchange facility of ₹2000 notes will begin on 23 May 2023 and would be limited to only ₹20,000 at a time. However, deposits into bank accounts can be made in the usual manner, that is, without any restrictions and subject to extant instructions and other applicable statutory provisions.
Source: https://www.rbi.org.in/
