Rs 2000 Note Withdrawn: Exchange and deposit begin today at banks

New Delhi: The Reserve Bank of India (RBI) announced withdrawal of Rs 2,000 currency notes from circulation on May 19. RBI said that those holding Rs 2000 notes can deposit in bank accounts or exchange from today, Tuesday till September 30.

However all bank notes in Rs 2,000 denomination will continue to be legal tender and be used for transactions, stated RBI. 

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For smooth operation at bank branches, the RBI has mandated that exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank.

But there's no such limit to deposit Rs 2000 currency notes into the accounts. 

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