New Delhi: In a recent statement, the Reserve Bank of India (RBI) has announced the extension of the deadline for exchanging ₹2,000 notes at banks until October 7. Additionally, the RBI emphasized that ₹2,000 notes will continue to be valid even after the exchange deadline expires, providing reassurance to the public.
The previous deadline for exchanging these notes was set for today. However, starting from October 8, banks will no longer accept ₹2,000 notes for exchange. Despite this, individuals still have the option to exchange these notes at 19 RBI offices. Furthermore, they can send the notes by post to the RBI's "issue offices" through India Post.
As of May 19, the RBI had received ₹3.42 lakh crore worth of ₹2,000 notes out of a total of ₹3.56 lakh crore that were in circulation. This indicates that as of September 29, only ₹0.14 lakh crore worth of ₹2,000 notes remained in circulation.
Remarkably, the data reveals that 96 percent of the ₹2,000 banknotes in circulation as of May 19 have been returned. This extension of the exchange deadline offers individuals additional time to manage their holdings of ₹2,000 notes.
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