Finance
The Reserve Bank of India (RBI) extended to October 7 the deadline for the public to exchange or deposit Rs 2,000 currency notes at bank outlets.
They had set the earlier deadline for surrendering Rs 2000 Notes on September 30.
“The RBI stated in a press release, ‘As the period specified for the withdrawal process has come to an end, and based on a review, we have decided to extend the current arrangement for depositing / exchanging Rs 2000 banknotes until October 7, 2023.
Following that, the public can deposit or swap Rs 2000 Notes at bank branches until October 7, according to the RBI.
The central bank stated that Rs 2,000 bills will remain legal tender.
Beginning October 8, bank branches will prohibit the deposit or exchange of Rs 2,000 notes. The central bank states that although Rs 2,000 notes will continue to be legal tender beyond October 7, they can only be exchanged at RBI offices.
Customers can continue to exchange these notes at the 19 RBI issuance offices up to a limit of Rs 20,000 at a time, according to the RBI announcement, even after October 7.
Individuals and corporations can also tender Rs 2,000 bank notes at any of the RBI’s 19 issuing offices for credit to their bank accounts in India for any amount, according to the RBI.
Customers from within the country can also send Rs 2,000 bank notesthrough India Post, addressed to any of the 19 RBI issue offices for credit to their bank accounts in India.
“Such exchange or credit shall be subject to relevant RBI / government regulations, submission of valid identity documents and due diligence as deemed fit by RBI,” the RBI said. The facility for deposit or exchange of Rs 2,000 banknotes at the 19 RBI Issue Offices shall be available until further advice,” the RBI statement added.
