The Rs. 2,000 note – The most popular Rs. 20 note
New Delhi: After months of controversy, the Rs. 1,000 notes will no longer be available for purchase by consumers.
The Reserve Bank of India (RBI) on Wednesday removed the old Rs. 500 and Rs. 1000 notes, which were last issued in July.
The move came amid a nationwide ban on the old notes that was imposed after demonetisation in November.
The old notes, the largest denomination of the Rs 1,200 and Rs 2,500 notes, were issued in the first quarter of the 21st century.
These Rs. 2000 and Rs 3000 notes were issued from February 2017 to September 2018.
The Rs 500 and 500 notes were also discontinued from November 2020 to March 2021.
The move was expected to help ease the pressure on banks that had to close branches due to the closure of the old currency notes.
The RBI had earlier removed the Rs 500 note from circulation because of the demonetization of the currency.