RBI extends deadline to deposit Rs 2000 banknotes till October 07, 2023
Synopsis
The deadline for exchanging Rs 2,000 notes at banks has been extended till October 7. From October 8, banks will no longer accept Rs 2,000 notes for exchange.
The deadline for exchanging Rs 2,000 notes at banks has been extended till October 7, according to a statement issued by the Reserve Bank of India (RBI) on Saturday. The RBI stated that the Rs 2,000 note will remain valid even after the exchange deadline has passed. The previous deadline was today.
From October 8, banks will no longer accept Rs 2,000 notes for exchange. People can still swap Rs 2,000 notes at the RBI's 19 locations. The notes can also be mailed to the RBI's "issue offices" using India Post.
The RBI said it has received Rs 3.42 lakh crore worth of Rs 2,000 notes from a total of Rs 3.56 lakh crore in circulation as on May 19. This has left only Rs 0.14 lakh crore worth of Rs 2,000 notes in circulation till September 29. The data shows 96 per cent of the Rs 2,000 banknotes in circulation as on May 19 has since been returned.
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