Rs 2000 Exchange Date Extended till Oct 7 by RBI

New Delhi: The Reserve Bank of India (RBI) on Saturday extended the last date for deposit/exchange of Rs 2000 banknotes by seven days to October 7, 2023. Earlier September 30 was the deadline for it.

All banks have been directed by the RBI to provide deposit and exchange facilities for Rs 2,000 banknotes until the aforementioned deadline. Furthermore, the RBI has instructed banks to discontinue issuing Rs 2,000 notes immediately.

The RBI said starting from October 8, 2023, there will be a change in the procedure for depositing or exchanging Rs 2,000 banknotes:

Bank branches will cease to accept Rs 2,000 banknotes for deposit or exchange.

Individuals and entities will still have the option to exchange Rs 2,000 banknotes at the 19 Regional Offices (ROs) of the RBI, with a limit of Rs 20,000 at a time.

Individuals and entities can also tender Rs 2,000 banknotes at the 19 RBI Issue Offices for crediting the amount to their bank accounts in India. Those within the country can send Rs 2,000 banknotes through India Post, addressed to any of the 19 RBI Issue Offices, for credit to their bank accounts in India.

Any exchange or credit will be subject to relevant RBI and Government regulations, with the submission of valid identity documents and due diligence as required by the RBI.

Courts, law enforcement agencies, government departments, or any other public authority involved in investigation proceedings or enforcement may deposit or exchange Rs 2,000 banknotes at any of the 19 RBI Issue Offices without any specified limit.

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