If a bank refuses to exchange or accept ₹2000 notes, what actions should customers take?
The reason behind the withdrawal of ₹2000 banknotes is that they have completed their estimated lifespan and are not observed to be commonly used for transactions anymore.
The highest denomination banknote ₹2000 of India is being scrapped and RBI has asked banks to stop issuing them immediately. On the other hand, customers are encouraged to either exchange their ₹2000 banknotes or deposit them. In its FAQs, RBI has also explained directions if a bank refuses to exchange or take deposits in this denomination currency.