The Reserve Bank of India has withdrawn the circulation of ₹2,000 notes, which were introduced in 2016 following the demonetisation of ₹500 and ₹1,000 notes. The RBI has carried out this move as part of its ‘Clean Note Policy’.
If you have ₹2,000 notes with you, there is no need to panic. You have a time period of four months to deposit them into your accounts or exchange these bank notes.
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How to exchange your ₹2,000 notes?
The people can now approach the banks for deposit and/or exchange of ₹2,000 notes possessed by them. The facility for deposit into the accounts and exchange for such notes at all banks till September 30. The facility for exchange will be available also at the 19 Regional Offices (ROs) of RBI having Issue Departments until September 30, 2023, the RBI said.
According to RBI, the deposit into the bank accounts can be carried out without restrictions subject to compliance with KYC norms and other applicable statutory or regulatory requirements.
The people can exchange ₹2,000 notes up to a limit of ₹20,000 at a time. The exchange can be made through Business Correspondents upto a limit of ₹4000/- per day for an account holder.
The people can exchange or deposit ₹2,000 into the accounts from May 23. The RBI has said that a non-account holder also can exchange ₹2,000 banknotes up to a limit of ₹20,000/- at a time at any bank branch.