The Reserve Bank of India (RBI) announced today that it is withdrawing Rs 2,000 notes from circulation based on a review. The notes, that came into circulation in 2016, after Prime Minister Narendra Modi announced demonetisation, will however continue to be legal tender, the RBI said in a release.
"In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the Rs 2000 denomination banknotes from circulation," the RBI said.
The RBI has advised citizens to deposit Rs 2,000 banknotes into their bank accounts or exchange them into banknotes of other denominations at any bank branch.
Soon after the announcement, Twitter was flooded with memes. Users started bidding adieu to the currency note and it quickly became a top trend.
Here are some of the top ones:
Scenes after RBI decides to withdraw Rs. 2000 notes pic.twitter.com/AHwEhU5hw8Related stories
— Sagar (@sagarcasm) May 19, 2023
People who have a lot of Rs. 2000 notes at home pic.twitter.com/q9vc0LdRjS— Sagar (@sagarcasm) May 19, 2023
RBI decides to withdraw Rs. 2000 notes. RIP 2000rs notes pic.twitter.com/31kSPzBjBl— Aditi. (@Sassy_Soul_) May 19, 2023
Mere pas sirf 1798 rupay hain#Demonetisation
Rs 2000 notepic.twitter.com/JVZnKAxQyM— human (@humanbeing1857) May 19, 2023
RIP Rs 2000 note. pic.twitter.com/Tnkc12MNm0— Krishna (@Atheist_Krishna) May 19, 2023
6 yrs back, it was 500 & 1000 rupees notes.
Now, it's time for Rs 2000 notes #reservebankofindia #demonitisation pic.twitter.com/hOwsGnieYg— Naman (@ama_joking) May 19, 2023
RBI to Rs.2000 currency note: pic.twitter.com/fsCG4qOtQb— Succinct (@ChanchalKamini) May 19, 2023
The objective of introducing Rs 2,000 banknotes was met when other denominations became available in adequate quantities post demonetisation. Thus, printing of Rs 2,000 banknotes was stopped in 2018-19.
Read: Your questions on Rs 2,000 note answered as RBI declares to withdraw it from circulation
The total circulation of Rs 2,000 notes has declined considerably since it was introduced. As of March 31, 2023, only Rs 3.62 lakh crore in Rs 2,000 notes (constituting only 10.8 percent of notes in circulation) was available.
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