 "Rs 2000, rs 500, currency, rupee, money, demonetisation, note ban")
On May 19, 2023, the Reserve Bank of India (RBI) announced its decision to withdraw from circulation all currency notes of Rs 2,000 denomination. The RBI circular advised the public that these high-denomination currency notes could be exchanged or deposited with banks before the end of September 30, 2023, a deadline that was subsequently extended by a week.
This was an announcement that immediately brought back memories of the 2016 demonetisation, which caused hardships and disruption to ordinary people, companies, and traders. Long queues of customers formed outside banks as they waited to exchange the annulled currency notes of Rs
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