MTC buses to continue accepting ₹2k notes: Transport dept

CHENNAI: The State Transport Department issued a clarification that ₹2000 notes will be accepted by MTC buses for buying tickets.

However, the department also said that notes of those who don’t travel by buses will not be exchanged.

The Reserve Bank of India (RBI) on Friday decided to withdraw the ₹2000 denomination currency notes from circulation, but added they (currency notes) will continue to remain as legal tender.

RBI had advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect. RBI, however, said that citizens will continue to be able to deposit Rs 2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch up to September 30, 2023.