After the Reserve Bank of India stated on May 19 that it would discontinue Rs 2,000 notes, the notes were exchangeable or bankable for four months. The RBI claims banks have not received Rs 2,000 notes worth Rs 24,000 crore. Today and tomorrow are the last two days to exchange the notes
What happens if you have Rs 2000 notes and can’t exchange them until 30 September?
Rs 2000 notes will remain legal money after September 30, but not for transactions. Only RBI can swap the remaining notes. Individuals can swap Rs 2,000 notes at 19 RBI regional offices (ROs) or any bank branch until September 30. There are two days left. In this situation, many hope RBI can extend the deadline or provide greater relief.
Steps to deposit Rs 2,000 notes
1) Visit your nearest bank.
2) Complete the Exchange/Deposit ‘Request Slip’
3) Type the depositor’s name in capital letters.
4) Enter your Unique Identification Number (Aadhaar, Driving License, Voter ID, Passport, NREGA, Population Register).
5) Complete Rs 2000 note information.
The Reserve Bank reported that 93% of Rs 2000 currency notes in circulation on May 19 have been returned to banks by September 1. A statement claimed the banks’ data shows Rs 3.32 lakh crore in Rs 2000 banknotes returned from circulation as of August 31, 2023.
Conclusion:-
Four months have gone since the RBI declared that Rs 2,000 notes will be discontinued on May 19. The banks have not received the Rs 24,000 crore notes. Rs 2000 notes that cannot be exchanged before September 30 will remain legal tender but not accepted. RBI alone can exchange the remaining notes. Up to September 30, people can swap Rs 2,000 notes at 19 regional offices or any bank branch.
Visit your nearest bank, fill out the ‘Request Slip’ for Exchange/Deposit, write the depositor’s name in capital letters, enter your Unique Identification Number (like Aadhaar Card, Driving License, Voter ID Card, Passport, NREGA Card, and Population Register), and enter the Rs 2000 note details. Banks have returned up to 93% of Rs 2000 currency notes in circulation on May 19, according to the Reserve Bank. Up to August 31, 2023, Rs 2000 bills returned totaled Rs 3.32 lakh crore.
