What is the main reason to Stop 2,000 Notes by RBI 

The Reserve Bank of India on Friday 19 May 2023 , announced to withdraw Rs 2000 note from circulation. R

Rs 2,000 note was introduced in November 2016 primarily to meet the currency requirement beacause withdrawal of legal tender status of Rs 500 and Rs 1,000 banknotes in circulation at that time.

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About 89% of the Rs 2000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years.

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RBI observed that Rs 2000 notes are not commonly used for transactions all over.

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The total value of Rs 2,000 banknote in circulation declined from Rs 6.73 lakh crore at its peak as on March 31, 2018 - 37.3% of Notes in Circulation - to Rs 3.62 lakh crore constituting only 10.8% of Notes in Circulation on March 31, 2023.

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The decision has been taken in pursuance of RBI's “Clean Note Policy”. Like 2016 Indian banknote demonetisation

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Main Reson to stop the Rs. 2000 because many people stock the 2000 notes. in the form of Black Money.

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The RBI, in a statement on Friday, said that all Rs 2,000 currency notes must be exchanged before September 30, 2023

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RBI give the time to change 2,000 Notes till September 30, 2023

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RBI give the time to change 2,000 Notes till September 30, 2023

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