People can start exchanging 2,000 rupee notes ($24; £19) in banks from Tuesday as India intends to phase out the currency.

It was introduced in 2016 after the Indian government withdrew 500 and 1,000 rupee notes.

Prime Minister Narendra Modi’s decision was seen as an attempt to curb black money, but opposition parties say it has failed to achieve its goal.

The tickets can be exchanged until September 30th.

India’s central bank said on Friday that while 2,000 rupee banknotes – India’s highest denomination currency – would be phased out, they would remain legal.

This means that the Reserve Bank of India (RBI) wants most of these notes to be exchanged or banked by September 30 and phase them out.

However, they do not lose their legal status, so they can be used for transactions even after the deadline.

Banks have also been ordered not to issue 2,000 rupee notes. They have been asked to hire more staff and counters to handle the expected high volume of transactions.

The announcement has caused some panic among people, who say it is reminiscent of the government’s “demonetization” push.

On November 8, Mr Modi announced just four hours in advance that all 500 and 1,000 rupee notes – virtually 86% of India’s cash – would no longer be valid. The Rs 2,000 notes were introduced to quickly replenish cash in circulation following the move – dubbed “demonetisation” by the media.

Long queues formed outside banks as people rushed to exchange 500 and 1,000 rupee notes before the deadline. There have been reports of people passing out or dying while waiting in endless queues at ATMs.

The government has reassured people that the latest move is not “demonetization”.

But it has received mixed reactions.

Some BJP lawmakers have praised it, calling it “Second surgical strike against black money“, while some leaders of opposition parties called that the decision to withdraw the banknotes in 2016 was flawed as the economy was suffering and the latest move was “an admission of that error”.

Following the government’s announcement, there were reports of people paying Rs 2,000 notes at petrol stations and shops to get rid of them.

However, on Monday, RBI Governor Shakkanta Das appealed to people not to rush to the banks as “more than the banknotes needed are already available and already printed” for exchange.

He also said the withdrawal of banknotes would have little impact on the economy as they were “barely used”.

BBC News India is now on YouTube. Click here to subscribe to and view our documentaries, explanatory films and features.

People can start exchanging 2,000 rupee notes ($24; £19) in banks from Tuesday as India intends to phase out the currency.

It was introduced in 2016 after the Indian government withdrew 500 and 1,000 rupee notes.

Prime Minister Narendra Modi’s decision was seen as an attempt to curb black money, but opposition parties say it has failed to achieve its goal.

The tickets can be exchanged until September 30th.

India’s central bank said on Friday that while 2,000 rupee banknotes – India’s highest denomination currency – would be phased out, they would remain legal.

This means that the Reserve Bank of India (RBI) wants most of these notes to be exchanged or banked by September 30 and phase them out.

However, they do not lose their legal status, so they can be used for transactions even after the deadline.

Banks have also been ordered not to issue 2,000 rupee notes. They have been asked to hire more staff and counters to handle the expected high volume of transactions.

The announcement has caused some panic among people, who say it is reminiscent of the government’s “demonetization” push.

On November 8, Mr Modi announced just four hours in advance that all 500 and 1,000 rupee notes – virtually 86% of India’s cash – would no longer be valid. The Rs 2,000 notes were introduced to quickly replenish cash in circulation following the move – dubbed “demonetisation” by the media.

Long queues formed outside banks as people rushed to exchange 500 and 1,000 rupee notes before the deadline. There have been reports of people passing out or dying while waiting in endless queues at ATMs.

The government has reassured people that the latest move is not “demonetization”.

But it has received mixed reactions.

Some BJP lawmakers have praised it, calling it “Second surgical strike against black money“, while some leaders of opposition parties called that the decision to withdraw the banknotes in 2016 was flawed as the economy was suffering and the latest move was “an admission of that error”.

Following the government’s announcement, there were reports of people paying Rs 2,000 notes at petrol stations and shops to get rid of them.

However, on Monday, RBI Governor Shakkanta Das appealed to people not to rush to the banks as “more than the banknotes needed are already available and already printed” for exchange.

He also said the withdrawal of banknotes would have little impact on the economy as they were “barely used”.

BBC News India is now on YouTube. Click here to subscribe to and view our documentaries, explanatory films and features.