Indians are exchanging 2,000-rupee ($24 ;£19) notes at banks as the country aims to withdraw the currency from circulation.
The note was introduced in 2016 after the Indian government withdrew 500 and 1,000 rupee notes.
PM Narendra Modi’s decision was seen as an attempt to curb black money, but opposition parties say it failed to achieved its goal.
The notes can be exchanged until 30 September.
India’s central bank on Friday said that though 2,000-rupee notes – India’s highest denomination currency note – would be removed from circulation, they would still be legal.
This means that the Reserve Bank of India (RBI) wants most such notes to be exchanged or deposited into banks by 30 September and gradually removed from circulation.
But they don’t lose their legal status, allowing people to use them for transactions even after the deadline.
Banks have also been told to not issue 2,000-rupee notes. They have been asked to add more staff and counters to deal with an anticipated high volume of transactions.
The announcement has sparked some panic among people, who say it is reminiscent of the “demonetisation” move by the government.
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