TV
In a major respite, the Reserve Bank of India (RBI) on Saturday extended the deadline for deposit and exchange of Rs 2,000 banknotes. Earlier the banks were advised to provide deposit and/or exchange facility for Rs 2000 banknotes until September 30, 2023, and the deadline ended today.
As per the RBI’s latest notification, the current arrangement for deposit/exchange of Rs 2000 banknotes has been extended until October 7, 2023.
“As the period specified for the withdrawal process has come to an end, and based on a review, it has been decided to extend the current arrangement for deposit/exchange of Rs 2000 banknotes until October 7, 2023,” said RBI in its latest notification.
From October 08, 2023, the procedure for deposit/exchange of Rs 2000 banknotes shall be as under:
The deposit/exchange at bank branches shall be stopped.
Rs 2000 banknotes can continue to be exchanged by individuals/entities at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time.
Individuals / Entities can tender Rs 2000 banknotes at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.
Individuals / Entities from within the country can also send Rs 2000 banknotes through India Post, addressed to any of the 19 RBI Issue Offices for credit to their bank accounts in India.
Such exchange or credit shall be subject to relevant RBI / Government regulations, submission of valid identity documents, and due diligence as deemed fit by RBI.
Rs 2000 banknotes shall continue to be legal tender, said RBI.
