Rs 2,000 notes will no longer be valid after today, Know what happens if you miss deadline
The Reserve Bank of India (RBI) has issued a clear warning that the Rs 2000 notes will lose their value if not exchanged by September 30.
New Delhi: Today is the last day for the exchange of the Rs 2000 notes in the banks. The Reserve Bank of India (RBI) has issued a clear warning that the Rs 2000 notes will lose their value if not exchanged in a bank by September 30.
This clarification follows recent reports indicating a possible extension of the deadline to return Rs 2000 notes until the end of October.
On May 19, the RBI took Rs 2000 notes out of circulation and provided nearly four months for people to deposit or exchange them. The original deadline set by the RBI for exchanging or depositing these notes was September 30, which is today.
Those who have not done so yet still have time today, as banks will remain open due to it being the 5th Saturday.
They can visit their nearest branch to exchange or deposit the Rs 2000 notes.
An exchange or deposit can also be done at regional branches of the RBI. Even individuals without bank accounts can exchange Rs 2,000 banknotes, up to a limit of Rs 20,000 at a time, at any bank branch.
After September 30, while the notes will still be considered legal tender, but they will no longer be accepted for transactions and can only be exchanged with the RBI.
Earlier this month, on September 2, the RBI reported that 93 percent of the ₹2,000 banknotes in circulation as of May 19 had been returned to banks.
Ms Kalinga