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Deadline Approaching: How to Exchange Your Rs 2000 Currency Notes

Deadline Approaching: How to Exchange Your Rs 2000 Currency Notes

The deadline for exchanging or depositing Rs 2000 Currency banknotes is just four days away. On May 19, the Reserve Bank of India (RBI) announced the withdrawal of the Rs 2000 Currency note and gave the public until September 30 to exchange or deposit these notes at banks.

Here are some key details:

Amount in Circulation

There are still around Rs 24,000 crore worth of Rs 2000 notes in circulation, which is roughly $2.9 billion.

Deposits So Far: According to the RBI, about 93% of the Rs 2000 notes have already been returned to banks. As of August 31, 2023, Rs 3.32 lakh crore worth of these notes had been deposited or exchanged.

How to Deposit Rs 2000 Notes:

  1. Visit your nearest bank.
  2. Fill out a “Request Slip” for deposit or exchange.
  3. Write your name in capital letters as the “Tenderer.”
  4. Provide a valid identification proof such as Aadhaar Card, Driving License, Voter ID Card, Passport, NREGA Card, or Population Register.
  5. Fill in the details of the Rs 2000 notes you want to deposit, including the number of notes and their total value.
  6. Complete the form and submit it along with your Rs 2000 notes to the bank for exchange.

Where to Exchange:

You can exchange your Rs 2000 Currency notes at any bank branch near you or through the 19 Regional Offices (ROs) of the RBI with currency issuance departments until September 30, 2023.

What Happens After September 30:

After September 30, Rs 2000 Currency notes will still be considered legal tender, but you won’t be able to use them for transactions. They can only be exchanged through the RBI.

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