Why the RBI chose to stop using the Rs 2,000 note in circulation?

NEW DELHI: The Reserve Bank of India stated on Friday that the Rs. 2,000 note would be taken out of circulation and set a deadline of September 30 for citizens to deposit or swap the notes they now possess. Beginning on May 23, the deposit or exchange process will begin.
All banks have been instructed by the Reserve Bank to immediately cease printing banknotes with a value of Rs 2,000. Nonetheless, even after the withdrawal date, the Rs 2,000 note would still be accepted as legal money.
In 2018–19 alone, the production of Rs 2,000 banknotes was halted.

These are the reasons the central bank made this choice:

The introduction of the Rs 2,000 note in November 2016 was largely to satisfy the economy’s need for cash following the loss of the legal tender status of the then-current Rs 500 and Rs 1,000 banknotes. While there are now sufficient supplies of banknotes in various denominations, that goal has been achieved.
Around 89% of banknotes in the Rs 2000 denomination were printed before March 2017 and are nearing the end of their predicted life of 4-5 years.
The RBI noted that the Rs 2,000 note is not frequently used in transactions.
At its peak on March 31, 2018, the value of the Rs 2,000 banknote in circulation was Rs 6.73 lakh crore or 37.3% of all notes in circulation. As of now, that value is just Rs 3.62 lakh crore.

The choice was made in accordance with the “Clean Note Policy” of the RBI. RBI has previously taken similar actions. The RBI declared in January 2014 that it will gradually phase out all banknotes printed before 2005. Then, it had given individuals until March 31, 2014, to utilize their old notes and recommended they visit banks starting on April 1, 2014, to swap them.
The move is a component of the RBI’s continuing initiatives to rationalize the currency system and provide accessibility to banknotes of lesser denominations.