Articles
Banking service chronicle
Banking service chronicle published this article page no 2 the reserve bank of india has decided to withdraw rs 2000 denomination banknotes from circulation under the “clean note policy”. however rs 2000 notes will continue to be legal tender.the reserve bank of india (rbi) has announced the withdrawal of rs 2000 notes from circulation on 19th may.the reserve bank of india (rbi) has advised people to exchange these notes by 30 september. from may 23 2023 can be changed in any bank up to a limit of rs 20000 at a time.rbi had issued 2000 note in november 2016. these notes were issued under section 24(1) of the rbi act 1934.according to rbi rs 2000 notes are generally not used much in transactions. under the clean note policy of rbi it has been decided to withdraw rs 2000 notes from circulation. in the year 2018-2019 the government had stopped the printing of rs 2000 notes. the clean note policy was adopted by the rbi to ensure availability of good quality banknotes to the public. the objective of the policy is to maintain the integrity of indian currency by removing damaged counterfeit or soiled notes from circulation banking services chronicle monthly magazine.