India to withdraw 2,000-rupee notes from circulation
Business
India to withdraw 2,000-rupee notes from circulation
MUMBAI (Reuters) - India's central bank said on Friday it will start withdrawing 2,000-rupee notes from circulation, although they will remain legal tender.
People will be asked to deposit 2,000-rupee banknotes in their bank accounts or exchange them for smaller denominations between May 23 and Sept. 30, the Reserve Bank of India said.
They will be able to exchange up to 20,000 Indian rupees ($244.56) at a time, it added.
($1 = 81.7800 Indian rupees)
