Goa, July 9 -- The Reserve Bank of India (RBI) has once again clarified that Rs.2,000 banknotes continue to be legal tender and can still be deposited or exchanged, despite being withdrawn from circulation nearly three years ago. While the notes are no longer available through regular banking channels, holders can continue to exchange or deposit them through the RBI's designated facilities.

The central bank announced the withdrawal of Rs.2,000 banknotes from circulation on May 19, 2023, as part of its currency management strategy. Introduced in November 2016 after demonetisation, the high-value note was intended to quickly replenish cash in the economy. As sufficient quantities of lower denomination notes became available, the RBI decide...