RBI To Stop Exchange or Deposit Rs 2,000 Notes on April 1, Know When It’ll be Resumed

New Delhi: The Reserve Bank of India (RBI) will not exchange or accept Rs 2,000 notes at its 19 offices across the country on April 1 as they will be closing their accounts for the year on that day.

The service will resume on April 2, according to an announcement made by the RBI.

“The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 01, 2024 at the 19 Issue Offices of the Reserve Bank of India due to operations associated with the Annual Closing of Accounts. The facility will resume on Tuesday, April 02, 2024,” RBI said.

It may be noted that people have been able to exchange Rs 2,000 notes at the 19 RBI offices located across various cities since May 19 last year. But due to the yearly closing of accounts, this service will temporarily halt on April 1st and resume the next day.

The RBI has been allowing individuals and businesses to deposit Rs 2,000 notes into their bank accounts since October 2023.

By March 1, 2024, nearly 97.62% of the Rs 2,000 notes in circulation since May 19, 2023, have been returned to the banking system.