RBI Withdraws Rs 2,000 Notes: Experts' Take On The Move

PUBLISHED ON: May 20, 2023 | Duration: 15 min, 03 sec

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The Reserve Bank on Friday announced the withdrawal of Rs 2,000 currency notes from circulation but gave the public time till September 30 to either deposit such notes in accounts or exchange them at banks. The Rs 2,000 notes, however, will continue to be legal tender till September 30. "This is not a demonetisation because that would mean that the legal status of the note has been withdrawn but nothing of that sort has been done," said former finance secretary Subhash Chandra Garg. Senior economist Santosh Mehrotra said the government 'corrected its mistake' through the decision. Here's a take by experts on the RBI move.
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