The announcement and the deadline, which is at odds with the assurance that the notes would remain legal tender, caused a stir and evoked memories of demonetisation, when the government scrapped high-value currency notes with a few hours notice in November 2016, although the Reserve Bank of India was at pains to reiterate that the move was prompted by its so-called "Clean Notes" policy.
Banks will start exchanging notes from May 23 and people can exchange 2,000 banknotes up to a limit of ₹20,000 at a time. In remote locations, an account holder can get it exchanged through business correspondents (BCs) up to a limit of ₹24,000 per day, RBI said.
While an FAQ issued by RBI on Friday said that "members of the public can continue to use ₹2,000 banknotes for their transactions and also receive them in payment", it added that "they are encouraged to deposit and/or exchange these banknotes on or before September 30, 2023", It is likely that RBI will announce a mechanism to deposit or exchange the notes past the deadline.
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Dhanush threatens bigger lawsuit in response to Nayanthara's open letter
Actor-producer Dhanush has responded to actor Nayanthara's open letter against him, threatening a bigger lawsuit if she doesn't take down the three-second footage of the Tamil film, Naanum Rowdy Dhaan (2015), which has been used in her OTT documentary.
Shazahn gets engaged to partner, says 'Can't wait to start forever with you'
Actor Shazahn Padamsee, who debuted opposite actor Ranbir Kapoor in Rocket Singh: Salesman of the Year (2010), has got engaged to her longtime boyfriend, businessman Ashish Kanakia.
Timeless grace of Rekha
Celebrity fashion designer Manisha Malhotra, who was behind Rekha's recent look - reminiscent of the actor's iconic Khoon Bhari Maang took to (1988) hairdos Instagram to express his admiration for the actor.
AN ENCHANTING EVENING IN DELHI
How often do we witness forests coming to life? A recent solo exhibition titled Enchanted Forests by artist Kavita Chopra Dikshit and curated by Jyota A Kathpalia allowed visitors to experience the same in the Capital.
Govinda cuts short Maharashtra election campaign citing ill health
Actor-turned-politician Govinda cut short his poll campaigning in Jalgaon and returned to Mumbai on Saturday, citing ill health.
‘The industry taught me patience’
Having recently completed six years in Hindi cinema, Mouni Roy says that the industry has taught her \"patience and perseverance\".
BAHAR KA KALAKAAR JO MARZI KARE: DILJIT ON RECEIVING GOVT NOTICE
Singer-actor Diljit Dosanjh criticised the Telangana government after he was served a notice ahead of his Hyderabad concert, which was held on November 15.
Coach who guided Comaneci to her Perfect 10 dies aged 82
Famed Olympic gymnastics coach Bela Karolyi, who coached Nadia Comaneci to the sport's first \"Perfect 10\", has died at the age of 82, USA Gymnastics said on Saturday.
Deepika's brace floors Japan
Deepika converts two penalty corners in a 3-0 win for the round robin toppers; India to face Japan again in Tuesday's semi-final
Netherlands enter Nations League quarters; Germany hit record seven
Netherlands outclassed Hungary with a 4-0 victory in their winner-takes-all Nations League encounter on Saturday while record-setting Germany hammered Bosnia and Hercegovina 7-0.
