The Reserve Bank of India (RBI) has extended the deadline for exchanging or depositing notes worth 2,000 rupees until October 7. There are still unreturned 2,000 rupee notes valued at $14 billion as of September 29. Beginning on October 8, banks are not to accept any notes worth 2,000 rupees. These notes will, however, still be accepted as payment.
The RBI announced the withdrawal of ₹2,000 notes from circulation on May 19. According to data from banks, 96% of the ₹2,000 notes in circulation as of May 19 have been returned. The RBI has decided to extend the deadline for depositing or exchanging ₹2,000 notes based on a review. From October 8, individuals and entities can exchange ₹2,000 notes at 19 RBI issue offices, with a limit of ₹20,000 at a time.
These notes can also be tendered at these offices for credit to bank accounts in India. Individuals and entities within the country can also send these notes through India Post to any of the 19 offices for credit to their bank accounts, subject to relevant RBI and government regulations.
Valid identity documents and due diligence may be required. Courts, law enforcement agencies, government departments, or any other public authority involved in investigation proceedings or enforcement can deposit or exchange ₹2,000 notes at any of the 19 offices without any limit.
The 19 RBI offices are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
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