If you are one of those people who wants to exchange their Rs 2000 notes at the earliest, you can visit the bank today to exchange the Rs 2000 notes from today.The facility for deposit or exchange of Rs 2000 banknotes will be available up to September 30, 2023.
The Reserve Bank of India (RBI) has announced that the Rs 2,000 banknotes will no longer be in circulation. However, the central bank has reaffirmed that the Rs. 2000 banknotes will continue to be legal tender.
“To give time to the banks to make preparatory arrangements, members of the public are requested to approach the bank branches or ROs of RBI from May 23, 2023 for availing exchange facility,” RBI stated in its FAQs on the withdrawal of Rs 2,000 notes.
The Reserve Bank of India has decided to pull the Rs 2000 denomination banknotes from circulation in accordance with its “Clean Note Policy”.
According to the RBI press release date May 19, 2023, “ members of the public may deposit Rs 2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch. Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions.”
“In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of Rs 2000 banknotes into banknotes of other denominations can be made upto a limit of Rs 20,000/- at a time at any bank starting from May 23, 2023,” RBI stated further.
According to the HDFC Bank’s mail to its customers, “We offer a hassle-free exchange service at any HDFC Bank branch from May’23, 2023 onwards until September 30, 2023, allowing you to get your ?2000 banknotes exchanged with a per day limit of Rs. 20,000.”
What is Clean Note Policy?
It is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.
Does the legal tender status of Rs 2000 banknotes remain?
Yes. The Rs 2000 banknote will continue to maintain its legal tender status.
Can Rs 2000 banknotes be used for normal transactions?
Yes. Members of the public can continue to use Rs 2000 banknotes for their transactions and also receive them in payment. However, they are encouraged to deposit and/or exchange these banknotes on or before September 30, 2023…. Read More
Source By: economictimes
