The Reserve Bank of India (RBI) recently announced that it will no longer issue banknotes in the Rs 2,000 denomination but will continue to use them as legal tender.
In a proclamation, the RBI said, “The 2,000 category banknote was acquainted in November 2016 essentially with meet the money prerequisites of the economy in a quick way after the withdrawal of the lawful delicate status of each of the 500 and 1,000 banknotes available for use around then.”
According to the RBI, individuals can deposit and exchange their 2000 rupee notes at their local banks.
“All banks will be able to accept deposits into accounts and exchange 2000-cent banknotes until September 30, 2023. Up until September 30, 2023, the facility for exchange will also be available at RBI’s 19 Regional Offices (ROs) with Issue Departments1. the RBI’s true assertion noted.
Exchange Rs 2,000 notes: Check the step-by-step guide
Step 1: Visit your bank to deposit or exchange Rs 2000 notes beginning on May 23, 2023. If you have an account with that branch or bank, provide information about it.
Step 2: Fill out the “Request Slip” for the exchange of Rs 2000 notes. Enter the information for the Rs after providing identity information. 2000 note to be traded.
Step 3: Send in the application structure and Rs. 2000 notes to the close by bank to exchange them.
