The Reserve Bank of India has taken a sensational decision by announcing that it will withdraw the 2000 rupees notes from circulation after the month of September.
It has also announced that all regional offices of RBI and the other banks will exchange the 2000 rupee notes with lower denominations until September 30th. 2000 rupee notes have been introduced at the time when 500 and 1000 rupee notes were banned and just to meet the currency requirement the RBI has brought in 2000 rupee notes. The printing of the 2000 notes has been stopped in 2018-2019 as the other notes which are available are adequate enough to compensate for it.
The RBI has come to this decision as the life span of the 2000 rupee note has come to an end. It was not seen even in commonly used transactions. Keeping all these factors in mind, the RBI has decided to withdraw this denomination by the end of September.