Banks gear up as Rs 2,000 note exchange process starts
Rs 2,000 exchange: Banks are all geared up as the exchange window for Rs 2000 banknotes opens on Tuesday, four days after the Reserve Bank of India announced the denomination's withdrawal from circulation.
Banks have dedicated counters, people to handle queues, and an ample supply of lower denomination currencies in anticipation of a rush.
The Reserve Bank of India announced on Friday that the process of exchanging 2,000 rupee notes, which will remain legal tender, will begin on Tuesday and last until the end of September.
All you need to know
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Following the demonetisation of the Rs 500 and Rs 1,000 notes in 2016, the printing of the Rs 2,000 notes was halted in 2018-19 as part of the central bank's strategy to phase it out.
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- PTC NEWS