well one can send it to RBI after sept - like it happened in ₹500 and ₹1000 notes in 2016
but the thing is right from this moment all small shops, services and businesses will probably stop accepting it.
also, i think it’s because of the objective- same as last time .. to suck money out of the system before the 2024 elections; the opposition remains fund starved. some says, it’s to implement digital ₹ in future.. let’s see what happens