RBI clarifies: Last date to exchange ₹2,000 notes is 30 September

Sunday, September 30, is the last deadline for the exchanging Rs2000 denomination banknote. If one does not get it exchanged, the Rs2000 denomination banknote will be just another piece of paper. Have you exchanged your Rs2000 notes? There were rumors that Rs2000 will be accepted for transaction purposes after September 30 but recently the Reserve Bank of India put all the rumors to the rest and clarified that the Rs2000 notes will cease to have their value after the given deadline. RBI issued this notice amid the rumors that were spreading fake news that the deadline to exchange the Rs2000 notes will be extended till 31st October.


Last Date To Exchange Rs2000 Denomination

According to the Reserve Bank of India, the last date for exchanging the Rs2000 notes is September 30, 2023. There is no plan for extending the time for exchanging Rs2000 notes in the banks which means if one does not get it exchanged by September 30, Rs2000 will no nothing more than a piece of paper. Some rumors on social media popped up and spread the news that the last date for depositing Rs2000 had been extended to October 31, 2023. But the RBI debunked the rumors and clarified that the last date for exchanging or depositing Rs2000 denomination notes will not be extended, it remains the same.

The deadline for exchanging Rs2000 notes was announced on September 30, 2023, when RBI decided to stop the circulation of Rs2000 notes in the market on May 19, 2023. The Reserve Bank of India, allowed people to exchange or deposit their Rs2000 notes by September 30, 2023, which gave more than four months. If you are still due to submit your Rs2000 in the bank, today is the last day to deposit Rs2000 notes at your nearest bank branch. Banks are open today because today is the fifth Saturday of the month.

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Can Non-Account Holder Exchange Rs2000 Notes?

Yes, people who do not have a bank account, are also able to exchange Rs2000 denomination banknote but they are limited to do so. The non-account holder people can only exchange up to a sum of Rs20,000 at a time at any bank branch. So far, a total of 93 percent of Rs2000 notes returned to banks. If the Rs2000 notes are not submitted at the bank by September 30, the Rs2000 will not be accepted for transaction purposes but it can be exchanged with the RBI. Though the notes will continue to remain legal tender. Stay tuned.

Amzad Khan
Amzad Khan

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