India is ending its 2000 rupee note

India is phasing out its largest bill, the 2000 rupee note .

While the bill can still be used, the central bank is asking people to deposit or exchange the note by Sept. 30, 2023. The move comes before India's state and general elections this year and in 2024.

Cash use usually increases during elections. The 2000 note was first introduced in 2016 after the government demonetized the 500 and 1000 rupee notes saying it would cut down on the black market and increase the use digital transactions.