22
May
The Reserve Bank of India (RBI) has decided to withdraw Rs 2,000 notes from circulation. However, the existing notes will continue as legal tenders, the RBI announced on Friday. The central bank has advised the public to deposit banknotes of Rs 2,000, which were introduced six years ago after withdrawing Rs 500 and Rs 1,000 notes during the demonetization exercise, to be exchanged in their bank accounts and/or banknotes of other denominations at another bank sector. Why has the RBI withdrawn Rs 2000 notes?The Rs 2000 note was introduced in November 2016 under Section 24(1) of the RBI Act, 1934,…