New Delhi: The Reserve Bank of India (RBI) has made the announcement that the Rs 2,000 currency notes will no longer be issued. Be that as it may, the notes will keep on being legitimate delicate till September 30, says RBI. RBI has mentioned banks to givedeposit and exchange facility of Rs 2000 notes until September 30, 2023. RBI made it clear in the statement that a facility to exchange Rs 2000 bank notes would be available on May 23.
Exchange of Rs 2000 banknotes into different divisions can be made upto a constraint of Rs 20,000 all at once at any bank beginning from May 23, 2023. Reserve Bank of India has encouraged banks to quit giving Rs 2000 category banknotes with prompt impact however banknotes in Rs 2000 section will keep on being legal tender.
What to do if you don’t have a bank account?
That shouldn’t bother you at all. According to RBI’s rules, anybody can deposit and exchange Rs 2,000 monetary certificates with different sections in the banks and 19 RBI local workplaces beginning from May 23, 2023. The procedure must be completed within four months, according to the central bank.
After September 30, 2023, the 2000 notes will no longer be accepted as legal tender.
It is essential to recall that an individual can trade 10 notes of Rs 2,000, meaning Rs 20,000 at one go in the bank.
The Reserve Bank of India (RBI) has made it clear that anyone can exchange or deposit Rs 2,000 bank notes in any bank branch in the country. Therefore, having a bank account is not required to complete the procedure. Furthermore, there will be no hidden fees associated with the service.
The RBI announced in a press release that it would no longer be printing notes with a denomination of Rs. 2000 during the 2018–19 fiscal year. After demonetization in 2016, the 2000 note was introduced to meet the demand for cash as the central government eliminated the Rs 500 and Rs 1000 denomination notes.
