Rupees 2000 Note: Reserve Bank of India (RBI) may give some more time to the common people to exchange the Rs 2,000 note. RBI may give time to common people to exchange or deposit notes till October.
A senior official, on condition of anonymity, said that RBI may extend the timeline for exchanging notes. The official said that RBI may extend the time for changing and exchanging Rs 2,000 notes by about a month. RBI may consider taking it forward keeping in mind the Non-Resident Indians (NRIs), i.e. Indians living abroad.
Currently, the deadline for exchanging Rs 2,000 notes is 30th September.
On May 19, RBI had announced withdrawal of Rs 2,000 notes from circulation. As of now, the last date to exchange Rs 2,000 note is tomorrow, September 30. RBI has not yet officially talked about increasing the debt. RBI had requested all the common people to deposit Rs 2,000 thousand notes in banks by September 30 or exchange them for other denomination notes. Now only time is left till tomorrow to exchange the notes from the bank.
More than 93 percent of Rs 2,000 notes returned
According to RBI information at the beginning of September, a total of 93 percent of the Rs 2,000 notes removed from circulation have returned to the banks. According to an RBI statement, data received from banks shows that the total value of Rs 2,000 notes deposited in banks till August 31, 2023 was Rs 3.32 lakh crore. This means that on August 31, only Rs 2,000 notes worth Rs 0.24 lakh crore were in circulation.
How to exchange notes from bank
People can deposit or exchange Rs 2,000 notes in their Revised Bank accounts till September 30. This facility is available in the branches of RBI and all other banks across the country from May 23. To reduce hassles in routine functioning of bank branches, notes ranging from Rs 2,000 to Rs 20,000 can be exchanged. To deposit Rs 2,000 note into a bank account, it is necessary to fulfill KYC rules.
