When the RBI withdrew ₹2000 notes from circulation in May 2023, what happened to their legal tender status?

They continue as legal tenderCorrect answerYour answerThey ceased to be legal tender at onceCorrect answerYour answerThey ceased to be legal tender on 30 September 2023Correct answerYour answerThey became valid only for tax paymentsCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

The RBI withdrew the notes from circulation but kept them legal tender.
This differs from 2016, when the old ₹500 and ₹1000 notes lost legal tender status.

Concept: ₹2000 note withdrawal
Typical timeTypical: 50 s
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Written from: rbi.org.in

When the RBI withdrew ₹2000 notes from circulation in May 2023, what happened to their legal tender status?

Explanation