As per information provided by the Reserve Bank of India (RBI), the Rs.2,000 denomination banknote will cease to possess legal tender status after the culmination of September 30.

It will essentially become a piece of paper unless exchanged at a bank, adhering to the RBI’s established deadline.

Reportedly, the central bank’s motive towards setting its specific date is to facilitate a systematic and timely transition, allowing ample time for the public to conduct the necessary currency exchange.

Further, in a recent communication, the RBI disclosed that about 93% of the Rs. 2,000 notes have already been successfully reintegrated into the formal banking system, marking a substantial stride in this financial transition.