The notes issued by RBI does not have any value until or unless they are signed by our Governor. If we see a note of 2,000/- it does not have any value of it’s paper. But until they are recognised as legal by GOI and RBI, they are having value of 2,000/-. This means legal tender of Money.

For example, if we go to market and take anything then we cannot buy it against old 1000 and 500 notes as RBI and GOI has taken them as legal tender… Actually, Notes do not have any value of it’s own, it’s just a piece of paper but since Govt has Legal Tender, then only they have value

So this means that 2000 notes are legal tender till 30th September 2023 and later to that they won’t have any value.