The Reserve Bank of India said on Friday that it will begin pulling 2,000-rupee notes from circulation, while they will remain legal money.
Between May 23 and September 30, people will be requested to deposit 2,000-rupee banknotes in their bank accounts or exchange them for lower denominations, according to the Reserve Bank of India.
It was also said that they will be able to exchange up to 20,000 Indian rupees ($244.56) at a time.
$1 equals 81.7800 Indian rupees
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