Are 2000 notes banned? Know Why

Know, can you now shop with a 2000 rupee note? Here is the Rs 2000 note latest news. RBI has given four months’ time to replace the 2000 note, but still, many questions are arising in the minds of the people.

The Reserve Bank of India (RBI) decided on Friday to withdraw the 2000 note from circulation as part of one of its important steps. Along with this, the Reserve Bank has advised the banks to immediately stop issuing 2000 rupee notes. RBI has said that people can exchange the 2000 rupee note with them from 23 May 2023 to 30 September 2023 in any nearby bank. However, there is also a big question of whether at present a 2000 rupee note can be purchased or paid.

Notes will have to be changed by September 30, in the order of RBI, it is clearly written that the note of 2000 rupees will be out of circulation, but it will remain a valid currency. According to RBI, if you have a 2000 rupee note, then at present you can make purchases, make payments with it and accept it if you find it in any item. But, by 30 September 2023, you will have to change the 2000 rupee note by going to the bank.

Any Fees to exchange Rs 2000 notes?

A big question is also in the mind of the people whether the bank will charge any fee for changing the 2000 rupee note. In the order issued by RBI, it is clearly written that if you go to change your 2000 rupee note in the bank, then you will not be charged any kind of fee. However, at a time you can change only 10 notes of 2000 rupees i.e. 20 thousand rupees.

How much time is there to exchange notes?

According to RBI’s decision, you have time from 23 May 2023 to 30 September 2023 to change your 2000 rupee note. That is, RBI has given full four months time to change the notes.