2000 Rupee Notes Out of Circulation: Government to Ban Rs 2000 Notes?

The Government of India has announced its withdrawal of all Rs 2000 currency notes from the Indian markers. All 2000 rupee notes will be out of circulation from 30 September.

by Sahil_Jain Updated: 22 May, 2023, 11:04 IST
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The Government of India has asked its citizens to get their Rs 2000 notes exchanged with their respective banks before 30 September 2023. This means that all 2000 rupee notes are out of circulation in India. Although the top official of the finance ministry, T.V Somanathan has said that this event concerning the Rs 2000 currency note will not cause disruption among the people, we can’t be 100% sure that the people will believe the same. 

2000 Rupee Notes Out of Circulation: Government to Withdraw All Rs 2000 Notes

According to the recently surfaced news, all 2000 rupee notes will be collected by various banks and depositors will get different notes of various denominations for the amount they deposit. The good news is that citizens can exchange their Rs 2000 notes till the 30th of September and even if they fail to do so, these currency notes won’t be useless anytime soon.

Rs 2000 Currency Notes Out of Circulation

If we believe some rumors, the Government of India will ban all 2000 rupee notes till 2026. Though, there are no official claims for such rumors. As of now, we only know that all Rs 2000 notes are out of circulation and the banks will withdraw them by 30 September. So, if you have any 2000 notes, do not panic, and get them exchanged at your bank whenever possible.

As per the Finance Ministry, all 2000 rupee notes will be withdrawn smoothly from the Indian markets and there is no need to panic as this is not the same demonetization that happened in 2016. Though, there is a good chance that people would stop accepting any 2000 rupee notes from their customers or businessmen. This would actually cause some trouble for the people and now we need to see how the Government handles such problems.

Last Date to Exchange 2000 Rupee Notes

The last date to exchange 2000 rupee notes is 30 September 2023. All citizens can start getting their Rs 2000 notes exchanged in their respective banks from 23 May and the banks will accept those notes till 30 September. After that, we might have to wait for further instructions from the RBI or the Government of India. Moreover, the limit for exchanging 2000 rupee notes for lower denominations is Rs 20,000 at a time. This means that each person can exchange no more than Rs 20,000 at a time. 

Also, RBI has asked banks to make special arrangements for senior citizens to let them exchange their 2000 rupee notes in the easiest manner. This is a very necessary step as senior citizens would otherwise face a lot of trouble exchanging their Rs 2000 notes in banks. 

This is everything you need to know about the 2000 rupee notes out of circulation news. Oh, by the way, I noticed how there were lesser 2000 rupee notes circulating in the market for a very long time. Is this a coincidence that now these Rs 2000 notes are out of circulation? Nobody knows that, but we know that you can discuss this topic further in the comments section below and ask any questions that you may have regarding the same. 

Generous
Sahil Jain is a personal finance and tech enthusiast who excels in matters related to tech and investment. His content revolves around mobile phone reviews, computers, operating systems, investments, credit cards, and other tech & finance topics.
76 Comments  |  
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Generous Generous
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Siyachin ko bhul Gaye itne jaldi? Laanat hai tumpe. 
Deal Cadet Deal Cadet
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People will start rejecting 2000₹ note now.
Pro Entertainer Pro Entertainer
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Yes,my 5year old nephew already rejected 2k note as a birthday gift today evening and he demanded 4*500 notes instead...

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Deal Cadet Deal Cadet
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Maybe 5000 & 10000 denominations are coming soon stuck_out_tongue_closed_eyes stuck_out_tongue_closed_eyes
Deal Captain Deal Captain
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This was s long waited decision. If covid 19 era had not come the decision would have come nearly 2 years before only.
Deal Cadet Deal Cadet
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One more step in cashless & digital economy
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Indian Economy Works On Cash U can’t push Unorganized Sector to Pay Taxes As Organized Sector There are too many Loopholes Also Tax laws in India are pretty fucked Up So CASH is King 💸

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Deal Cadet Deal Cadet
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Lokshabha 2024
Deal Cadet Deal Cadet
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Election results stunt
Blaze Blaze
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Good business, They can print money Whenever they need it in case of debt. Release new notes, then ban them when they want to make us poor, take more taxes then release new notes, it's all an infinite loop. 
Shopping Friend Shopping Friend
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and then the cost of printing, managing or disposing doesn't matter to the government 😜 

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Deal Cadet Deal Cadet
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American paper currency comes in seven denominations: $1, $2, $5, $10, $20, $50, and $100. The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But they are still legal tender and may still be in circulation.05-Apr-2023
Deal Cadet Deal Cadet
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The Bank of England £50 note is a sterling banknote. It is the highest denomination of banknote currently issued for public circulation by the Bank of England.
Deal Cadet Deal Cadet
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There are seven different denominations of euro banknotes: €5, €10, €20, €50, €100, €200 and €500. All the notes are legal tender throughout the euro area. View information about euro banknotes.
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You know how much that €200, €500 equivalent and how much you can buy with that single bill? joy joy
Community Angel Community Angel
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Demonetization 2.0 stuck_out_tongue_closed_eyes
Post Tycoon Post Tycoon
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September tk ka time h black money ko white kr lo 🤣🤣🤣
Deal Cadet Deal Cadet
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This decision is made upon request of Adani & Ambani to make their black money to white😝😝
Deal Subedar Deal Subedar
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Wow, it's so easy to make black money white. stuck_out_tongue_closed_eyes
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Deal Subedar Deal Subedar
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Chaiin nahi hai government ko ki banda thoda garmi me aaram kar le, bhagya diya phir se.
Super Stud Super Stud
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Wo chip ka ky karna hai jo note me hai iske bare me koi notification nhi aaya sweat_smile sweat_smile sweat_smile 

Agar kuch aae regarding chip please batana along with video chip kaise nikale joy joy joy joy joy
Deal Subedar Deal Subedar
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Ask b&d tv anchor sweta singh/sudhir choudhary (aaj tak) joy  
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Deal Cadet Deal Cadet
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Deal Cadet Deal Cadet
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Black money tripled in 7 years and Debt tripled in 7 years Source: Trust me bro blush We paid 72₹ for petrol in 2014 Paying 100₹ now is like 4% inflation per annum. Compare this with you salary/income growth in past 9 years. Blabbering here without any knowledge and calling out supporters of some political party as "bhatks" doesn't make you cool.
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Deal Cadet Deal Cadet
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Dont think they will reach death targets this time...
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Mission was accomplished in COVID episode only.
Deal Cadet Deal Cadet
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What about the CHIP in 2000 rupee note 🤪 ..demo was crap
Deal Cadet Deal Cadet
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New master stroke which will now have zero effect on us ✅ unlike demo which happened last time.  Most of us use e-commerce and who has seen 2000 rupee note....
Deal Cadet Deal Cadet
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Ban 500 also... online payments will increase.

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Election me bahot mushkil hogi usse to. Thugs and goons don't make rules against themselves dear. Rules are only for others.
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Andher nagari, choupat Raja.

As long as common citizens don't become aware and understand what's happening around, they will always be taken for a ride... to hell or worse.

I am convinced with full seriousness, government is a sham or a scam to run to enslave the masses for 3rd party benefits.

Ofcourse there are few exceptions like always but by and large scene is same around the world.

In india though such incompetent and crooked government, people might not have seen.

Everytime, indian government since independence try their best to prove opinions of Charchil right about indians.
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Once 2000 rs note is banned, can it be used like air tags.. to location tracking with its gps chip? Will the scrap value of 2000 rs note be more than it's cost with such high tech implementation?
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Chamchas already crying, no need to come up with any logic They will make Sona out of aloo
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Deal Subedar Deal Subedar
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I don't know why people are making fuss. I have few notes, i will deposit it in the bank, cause it's my legal and tax paid money. People who have loads of money need to worry about how to adjust the same. This decision doesn't even matter to taxpayers. Others can shout/cry just cause they are forced to pay taxes.
Generous Generous
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Bcz this is a mockery of the entire financial system. Do you even know the cost or just blindly support any party that aligns with your idealogy?

No, other stable countries keep on repeating such crap every pre election time. 

Just because you don't want to understand and shut your ears doesn't mean that only those who are annoyed has loads of black money.


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Post Tycoon Post Tycoon
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Daily wage workers were the worst affected last time. They had to stand in long queues which means no work for that day. Then the next day they will again get paid in the old currency and the cycle repeats. This whole process cut their work in half. Their contractors were intentionally paying them using the old currency to save their own time.

Deal Cadet Deal Cadet
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There was literally no sale for weeks as cash was not there during demonitization . Then 2020 lockdown and severe bout of Covid in 2021 did damage to some. 

In actual term the high collection of GST is nothing substantial its because of price increase. One of my old teacher believes that demonitization was done because banks had very bad NPA's and to fund them this was done. You can see how many banks in India are in dire straits.

Deal Cadet Deal Cadet
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Well actually due to demonetisation govt needed to print 2000 rs note to manage the sudden demand of currency, and i think after 5 years the requirement to print enough 500 notes to replace 2000 note is completed, also this will lead to crackdown on black money hoarders. So its a good calculative action by RBI n govt
Deal Newbie Deal Newbie
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@majorsdsingh2014270

TRUE. This GODI had mind-washed our country so badly. 😒

Very much worried 😥and sometimes I'm amazed by the intelligence of these  Creativity and explanations to make GODI a hero out of every worst scenario.


They are so so ingtelignet in saving their master at any cost, with all baseless explanations and non-logic answers.

Tech Guru Tech Guru
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To All Dimers,

We are writing to inform you that, after much consideration, we have decided to temporarily close the political section for the next month (no new topics can be created). We hope that this decision will help to create a more positive and harmonious environment for everyone.

As you know, political discussions can be very passionate and contentious, and in recent weeks, we have seen a rise in the number of arguments and conflicts in this section. While we value everyone's right to express their opinions, we believe that it is important to maintain a respectful and constructive tone in all discussions.

By taking a break from political discussions, we hope to encourage you all to engage in other topics that are equally interesting and meaningful. We have many other sections that offer diverse and engaging discussions, and we encourage you to explore them.

We want to reassure you that this is a temporary measure, and we will be monitoring the situation closely. We plan to reopen the political section in a month's time and hope that by then, everyone will have had the chance to reflect on their contributions to the forum.

We appreciate your understanding and support in this matter.
Meanwhile any new political & religious topics and any direct and indirect references in replies created in any other section of the forum, will be removed and considered as serious violation

This is by @bumblefoot n admin team

Please don't engage in political stuff. Don't ruin your and others weekends. 

@MJ911

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NICE 👍🏼

BTW aisa kya ho gaya tha 

??

Deal Cadet Deal Cadet
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In reality 90℅ people don't have 2000 notes as bank dont circulate them from long time. No ATM issue 2000 notes. Poor don't earn in 2000 daily. It's just for business man who and businesses can not be never documented 100% specially small businesses.
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