New Delhi: The Reserve Bank of India (RBI) has decided to withdraw Rs 2,000 notes from circulation. The central bank, however, reiterated that the Rs 2000 notes will continue to be legal tender.
RBI said that “Accordingly, members of the public can deposit ₹ 2000 banknotes in their bank accounts and/or exchange them for banknotes of other denominations at any bank branch. Deposits in bank accounts can be made in the normal manner, i.e., without restrictions and subject to existing instructions and other applicable Subject to statutory provisions.”
2,000 rupees banknote exchange limit and date
To ensure operational convenience and avoid routine operations of bank branches, the Rs 2,000 banknote can be exchanged for other denomination notes at any bank starting from 23 May 2023.
The RBI added that from May 23, 2023, the issue departments of RBI’s 19 Regional Offices (ROs) will also facilitate the exchange of Rs 2,000 banknotes up to a limit of Rs 20,000.
2,000 note exchange deadline
The Reserve Bank said people will be able to exchange Rs 2,000 notes till September 30, 2023.
“To complete the exercise in a time bound manner and to give sufficient time to members of the public, all banks will provide deposit and/or exchange facility for ₹ 2000 banknotes till September 30, 2023,” the central bank said in its notification. .
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