Rs 2,000 Note Ban | Why Did RBI Withdraw Rs 2,000 Notes | All You Need To Know | English News

Rs. 2,000 banknote has been withdrawn by the Reserve Bank of India. It was introduced in November 2016 under Section 24(1) of the RBI Act, 1934. The act allows the central bank to issue notes of any denomination not exceeding ₹ 10,000. But RBI said that the printing of Rs. 2,000 banknotes was stopped in 2018-19 cycle. RBI also added that the 'exercise is part of the currency management system'. Watch the video for more.
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