The Reserve Bank of India (RBI) has announced that it will cease the acceptance and exchange of Rs. 2000 notes from April 1. This decision aims to curb illegal hoarding and circulation of high-denomination currency.
Starting April 1, banks will no longer exchange or accept these notes over their counters, although they'll still be legal tender for transactions. This move is part of the government's efforts to encourage digital payments and combat black money. It's essential for people to be aware of this change to avoid inconvenience in their financial transactions.