RBI Governor Shaktikanta Das: If you also have 2000 rupee notes, then you can change the note by going to any bank near you. Apart from this, you can also deposit them in the account. ABI Governor Shaktikanta Das has appealed to the people a day in advance not to be in any hurry to change the notes.
2000 Rupee Note Ban: The Reserve Bank of India (RBI) had recently announced to withdraw the 2000 rupee note from circulation on 19th May. Now the process of depositing and exchanging 2000 rupee notes in banks is starting from 23 May i.e. from today. If you also have 2000 rupee notes, then you can change the note by going to any bank near you.
Apart from this, you can also deposit them in the account. ABI Governor Shaktikanta Das has appealed to the people a day in advance not to be in any hurry to change the notes. The note of Rs 2000 is valid and it can be changed anytime in the next four months. Let us know the answers to 7 important questions related to this-
Till when can the notes be changed?
Announcing the withdrawal of the Rs 2000 note from the RBI, it was said that valid currency can be changed by going to banks from May 23 to September 30, 2023. You can also deposit it in the account. Only 10 notes can be changed at a time. RBI also said in the order that Rs 2000 note is being taken out of circulation. You can make purchases with these notes.
Will it cost money to exchange notes?
It has already been clarified by the RBI that no money will be required to exchange the Rs 2,000 note from the bank. You can exchange your 10 notes at a time without any extra charge by going to the bank. No kind of fee can be demanded from you on behalf of the bank employee or officer. This facility is completely free.
How many notes can be deposited in the bank account?
There is no limit for depositing Rs 2000 notes in the bank account. You can deposit all the notes you have in your bank account. As per banking rules, you will have to show PAN-Aadhaar card on deposit of 50000 or more. Apart from this, keep in mind the rules of income tax while depositing money. Lest you get income tax notice for depositing more money.
Do I have to provide ID proof to exchange notes?
There is no need to provide any kind of ID proof to change money. On Monday also, clear instructions were given by the RBI governor that no identity card is required to exchange the notes. Some banks have made provision of ID for such customers who do not have an account with that bank.
What will happen to 2000 notes after 30th September?
If you are not able to deposit the notes by 30 September 2023, then it is not that these notes will become invalid. But after that your notes will not be able to be changed in the bank. After September 30, you will have to go to the RBI office to exchange notes. However, no guidelines were given by RBI in this regard.
What will be the impact on the economy if the Rs 2000 note is withdrawn?
RBI Governor Shaktikanta Das has already spoken about this. He said that if the 2000 note is withdrawn from circulation, there will be a very limited effect on the economy. He said that these notes are only 10.8 percent of the total currency in circulation. Most of the notes are expected to be returned by September 30.
Will Rs 1000 note come into circulation again?
When the RBI governor was asked about this, he said that the issue of re-introduction of Rs 1000 note was mere speculation. He said, at present there is no such proposal. Banks have made special arrangements for the elderly and differently-abled to exchange notes.
