Banks gear up for ₹2,000 note rush as RBI sets ground rules

Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3. 6 lakh crore of this high-denomination banknote in circulation will be turned in over the next four months. The RBI has asked banks to maintain separate daily records of the value of notes submitted for exchange and those deposited. The central bank said it would call for this data when required.

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