Almost seven years after introducing it into the Indian currency denomination, the country’s central bank, the Reserve Bank of India (RBI), has decided to withdraw Rs 2,000 banknotes.

Explained | Will withdrawal of Rs 2,000 banknotes impact the Indian economy?

The Reserve Bank of India (RBI), in a surprise move last week, announced that Rs 2,000 notes will no longer be in use and recommended people to deposit or exchange them for lower denominations before September 30.

Why are Rs 2,000 notes being scrapped? SBI issues guidelines on how you can exchange your notes

2000-notes-scrapped

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2000 notes-scrapped

Explained | Will withdrawal of Rs 2,000 banknotes impact the Indian economy?

Why are Rs 2,000 notes being scrapped? SBI issues guidelines on how you can exchange your notes