The Reserve Bank of India (RBI) has announced an extension of the deadline for the public to exchange or submit Rs 2000 notes until October 7, 2023. This decision comes after a review of the withdrawal process and aims to provide individuals with additional time to deposit or exchange these banknotes.
The current facility for depositing or exchanging Rs 2000 banknotes at bank branches will remain available until the new deadline of October 7, 2023. It’s important to note that Rs 2000 banknotes will continue to be considered legal tender.
This extension offers individuals more flexibility and convenience in managing their Rs 2000 notes. If you possess these notes and wish to deposit or exchange them, you now have until the specified date to do so at authorized bank branches.
It’s advisable to contact your bank for specific details and guidelines regarding the process of depositing or exchanging Rs 2000 notes, as procedures may vary between banks.
The key details of this extension include:
Exchange at RBI Issue Offices: Customers can continue to exchange Rs 2000 banknotes beyond October 7 at the 19 RBI Issue Offices located throughout the country. Each exchange transaction is subject to a limit of Rs 20,000.
Credit to Bank Accounts: Individuals and entities have the option to tender their Rs 2000 banknotes at the 19 RBI Issue Offices for crediting the amount to their bank accounts in India. There is no specified limit mentioned for the amount that can be credited through this process.
Sending via India Post: Customers residing within India can also use India Post services to send their Rs 2000 banknotes to any of the 19 RBI Issue Offices. These notes will be credited to their bank accounts in India.
Compliance with Regulations: The RBI emphasizes that all exchanges or credits are subject to relevant RBI and government regulations. Customers will be required to provide valid identity documents, and the RBI will conduct due diligence as deemed necessary.
Individuals planning to exchange or credit their Rs 2000 banknotes should ensure strict compliance with the stipulated regulations and provide the necessary documentation. For specific queries or further guidance, it is advisable to reach out to the RBI or their respective bank for clarification.
