Behind the 'retiring' of Rs.2,000 notes
The process of exchange of Rs.2,000 notes into currencies of smaller denomination has begun. A maximum amount of Rs.20,000 or ten Rs.2K notes can be exchanged in a single transaction. Persons exchanging Rs.2K notes need not have bank accounts and need not disclose their identities. The process will go on till 30 September and any residual Rs.2K notes will remain legal tender even after this deadline. The anonymous conversion of big notes in any amount will thus invite no scrutiny.