When is the last date to exchange Rs 2000 banknotes?
The last date to exchange Rs 2000 bank notes October 7, 2023. With effect from October 8, 2023, banks will stop accepting Rs 2000 banknotes for credit to accounts or exchange to other denomination banknotes.
According to bank data, 96% of the 2000 banknotes in circulation on May 19, 2023 have been returned.
With effect from October 08, 2023, the procedure for deposit, exchange of Rs 2000 banknotes shall be as under:
- The deposit, exchange at bank branches shall be stopped.
- Rs 2000 banknotes can continue to be exchanged by individuals / entities at the 19 RBI Issue Offices up to a limit of Rs20,000/- at a time.
- Individuals, entities can tender Rs2000 banknotes at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.
- Individuals, entities from within the country can also send ?2000 banknotes through 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.
- Courts, law enforcement agencies, government departments or any other public authority involved in investigation proceedings or enforcement, may, as and when required, deposit, exchange Rs 2000 banknotes at any of the 19 RBI Issue Offices without any limit.
What will be the last date for exchange of Rs 2000 banknotes in RBI?
Individuals, entities can deposit, exchange facility for Rs 2000 banknotes even after October 7 deadline at the 19 RBI issue offices will be accessible till further notice.
Also read: Last date to exchange Rs 2000 bank notes extended
Important updated FAQs from RBI
Q 1. What is the provision for deposit / exchange of ?2000 banknotes after September 30, 2023?
The current facility for deposit, exchange of Rs 2000 banknotes at bank branches has been extended by RBI till October 07, 2023.
Q 2. What will happen if one cannot deposit / exchange ?2000 banknotes by October 07, 2023?
The Rs 2000 banknotes can continue to be exchanged by individuals / entities at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time. Individuals / Entities can also tender Rs 2000 banknotes at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.
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.
Q 3. Is it necessary to visit RBI in person for deposit, exchange of Rs 2000 banknotes?
Individuals, entities from within the country can send Rs 2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India.
Such credit shall be subject to relevant RBI, Government regulations, submission of valid identity documents and due diligence as deemed fit by RBI.
