In accordance with its “Clean Note Policy,” the Reserve Bank of India (RBI) decided on May 19 to remove banknotes with a denomination of 2,000 rupees from circulation. The 2,000 notes, however, will still be accepted as legal money. In 2013–2014, similar note withdrawals from circulation were made.Withdraw ₹2000 notes from RBI changed the notes & deposited till September 30 the decision to withdraw the 2,000 note is expected to burden the system in addition to causing worry and annoyance for the public, and serves as a reminder of the days following demonetisation when the financial system was swamped by the large crowds who flocked into the branches to exchange banknotes.
1.Last day for the RBI’s 2000-rupee note exchange and deposit :-
Between May 23 and September 30, customers will be able to deposit their Rs 2,000 notes or swap them for smaller ones, according to a statement from the RBI.
2. The exchange/deposit cap is Rs 2,000 :-
According to the statement, bearers will be able to swap 2,000 rupee notes worth up to 20,000 rupees (10 notes of 2,000 rupees each).
3.When was the two thousand rupee note first issued?
The government announced the demonetization of the Rs. 500 and Rs. 1,000 notes in November 2016, at which point the Rs. 2,000 note was released.
4.Why did the 2,000 rupee note get printed?
The unexpected withdrawal of the Rs. 500 and Rs. 1,000 notes as part of the demonetisation push prompted the issuance of the Rs. 2,000 currency note to satisfy the needs of the Indian economy.
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5. Did the 2,000 rupees achieve their goals?
Yes, the objective was accomplished as soon as enough notes in other currencies were circulated.
6.Were the Rs. 2,000 notes printed the entire time?
No, in the 2018–19 fiscal year, the printing of the Rs 2,000 note was halted.
7.Is this a pioneering action?
No, the RBI has already carried out a similar note withdrawal in 2013–2014.
8.How do you deposit a note for Rs. 2000?
The deposit can be made as usual on the specified dates, without any limits, and “subject to extant instructions and applicable statutory provisions,” according to the RBI.
9.Why is the exchange subject to a cap?
In order to preserve operational convenience and prevent interruption of routine activities at the bank branches, the RBI has limited the exchange of the Rs 2,000 note for notes of lesser denominations at the bank to 10 at a time (Rs 20,000 in value).
10.What distinguishing qualities does the Rs. 2,000 note have?
The Rs 2,000 is 66 millimetres by 166 millimetres in size, Magenta in colour, and features a portrait of Mahatma Gandhi and the Ashoka Pillar insignia on the obverse, and a Mangalyaan motif and the Swachh Bharat Abhiyan logo on the reverse.
