Things to know about the ₹2000 note withdrawal

Why are ₹2000 denomination banknotes being withdrawn?

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In pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation.

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What is Clean Note Policy? It is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.

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Does the legal tender status of ₹2000 banknotes remain? Yes. The ₹2000 banknote will continue to maintain its legal tender status.

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Can ₹2000 banknotes be used for normal transactions? Yes. Members of the public can continue to use ₹2000 banknotes for their transactions and also receive them in payment.

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What should the public do with the ₹2000 denomination? Public may approach bank branches for deposit and/or exchange of ₹2000 banknotes held by them.

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Limit on deposit of ₹2000 banknotes into a bank account? Members of the public can exchange ₹2000 banknotes upto to a limit of ₹20,000/- at a time.

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Is there any fee to be paid for the exchange facility? No. The exchange facility shall be provided free of cost.

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