Last date to exchange Rs 2,000 notes at banks today: Here's all you need to know

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The last date to exchange Rs 2,000 notes at the bank is today following which the currency will not be accepted for transactions.

After October 7, Rs 2,000 notes can only be exchanged at the 19 RBI Issue Offices with a cash deposit limit of Rs 20,000 note maximum per transaction.

“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,” a statement by RBI read.

The notes will, however, continue to remain in legal tender even after the passage of the deadline.

The RBI started printing Rs 2,000 notes in November 2016 after Prime Minister Narendra Modi announced the demonetisation and withdrew the legal tender status of all Rs 500 and Rs 1,000 bank notes that were in circulation at that time.

Here’s all you need to know:

  • The public can deposit Rs 2,000 notes into their bank accounts or exchange them for notes of other denominations at any bank branch.
  • The RBI has also advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect.
  • Deposit into bank accounts can be made in the usual manner, ie, without any restrictions.
  • The 19 RBI issue offices include Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

With inputs from agencies



from Firstpost India Latest News https://ift.tt/3O65scw
FP Staff

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