"Whenever the PM goes to Japan he makes announcements about our currency. The last time he went he denotified currency note. This time he has done away with Rs 2000 notes. But our government is with the people, we will walk the talk."
These were the words of Congress President Mallikarjun Kharge as Siddaramaiah and DK Shivakumar took oath as the Chief Minister and Deputy Chief Minister of Karnataka
Quick recap: The Reserve Bank of India (RBI) on Friday, 19 May, said it will withdraw ₹2,000 notes from circulation, and that people can either exchange or deposit them by 30 September.
The ₹2,000 note was introduced in 2016 after the Narendra Modi-led government demonetised ₹500 and ₹1000 denominations, without prior intimation.
While confusion prevails over whether the note will remain a legal tender, some reports, quoting RBI sources, have 'clarified' that the note will remain a legal tender even post 30 September.
But here's what we do know for sure:
The RBI has directed banks to start taking ₹2,000 notes for exchange with lower denomination ones from 23 May.
It has also ordered all banks to stop issuing ₹2,000 notes immediately.