What Is The Maximum Limit to Exchange Rs 2000 Notes At A Time?

Reserve Bank of India (RBI) circular dated May 19 announced the removal from circulation of currency notes with a denomination of Rs 2,000.

According to a statement, the central bank has urged banks to offer deposit and/or exchange services for Rs 2,000 notes till September 30, 2023.

"With a view to minimise inconvenience to the public, to ensure operational convenience and avoid disruption of the regular activities of bank branches, all banks may exchange ₹2000 banknotes upto a limit of ₹20,000/- at a time", RBI said in a statement.

The RBI announced that starting on May 23, an exchange facility would be provided for notes worth up to 20,000 rupees each.

It also stated that the Rs 2,000 bills would still be accepted as lawful money.