RBI issued an advisory for the Withdrawal of ₹2000 Denomination Banknotes from Circulation

May 22, 2023 | by TeamLease RegTech Legal Research Team

Free Legal updates for the week 00


Finance & Taxation ComplianceThe Reserve Bank of India (RBI) on May 22, 2023, issued a notification regarding an advisory for the withdrawal of ₹2000 Denomination Banknotes from Circulation.

This has a reference to the circular DCM(Plg) No.S-236/10.27.00/2023-24 dated May 19, 2023, relating to the ₹2000 Denomination Banknotes – Withdrawal from Circulation, Will continue as Legal Tender.

The following has been advised namely: -

• The facility of exchange of ₹2000 banknotes across the counter shall be provided to the public in the usual manner as provided earlier.

• The Banks are advised to provide appropriate infrastructure at the branches such as shaded waiting space, drinking water facilities, etc. considering the summer season.

• The Banks shall maintain daily data on deposits and exchange of ₹2000 banknotes in the format attached and submit the same when called for.

 

[Notification No. RBI/2023-24/33 DCM(Plg) No. S-239/10.27.00/2023-24]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RegUpdate Mobile App.

NEW  ·  AI ASSISTANT