The RBI said that about 89 percent of the 2,000 denomination banknotes were issued before March 2017 and are at the end of their estimated life span of 4-5 years.
RBI has requested banks to provide deposit and exchange facility of Rs 2000 notes until September 30, 2023. In the statement, RBI clarified that exchange facility for Rs 2000 bank notes would be available from May 23.
Major players in the sorting cash machine market are Bcash Electronics Co, Cummins Allison, De La Rue plc, Giesecke+Devrient GmbH, Glory Global Solutions.