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ARTICLE · 06 JUNE 2023

FinTales Issue 30: In Memoriam Of The 2000-Rupee Note

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The 2000-rupee note is teetering on its last leg, ready to kick the bucket, living on borrowed time.

IndiaTechnology
Ikigai Law
Ikigai Law
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"Since Friday, 72% of our cash on delivery orders were paid in 2000-rupee notes."
– Zomato

The 2000-rupee note is teetering on its last leg, ready to kick the bucket, living on borrowed time.

You get the drift.

It's not a sudden death (none of the horrors of the demonetization). It's more of a slow fade into oblivion. Come 30 September 2023, the 2000-rupee note may cease to exist. The RBI wants the public to exchange or deposit these notes before this deadline. It's unclear what happens after this deadline: will the 2000-rupee note remain as a legal tender? Will there be conditions on its exchange or deposit? Who knows. Which is why many citizens are flocking to the bank – the Biryani bank that is – to exchange their 2000-rupee notes for hillocks of Biryani.

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