New Delhi: Providing much-needed relief to individuals yet to deposit or exchange their Rs 2,000 banknotes, the Reserve Bank of India (RBI) has announced a new facility. People can now send their high-denomination Rs 2,000 notes to specified regional offices of the central bank through insured postal services for direct crediting to their bank accounts.

For those residing far from RBI regional offices, the option to send Rs 2,000 banknotes through India Post's network of post offices is also available.

RBI Introduces Triple Lock Receptacle (TLR) for Deposits
As an added convenience, the RBI is introducing the Triple Lock Receptacle (TLR) form, allowing individuals to deposit their Rs 2,000 banknotes directly into their bank accounts.

Encouraging this method, RBI Regional Director Rohit P. Das stated, "We encourage customers to send their Rs 2,000 notes via insured post to the RBI for seamless and secure direct crediting to their accounts. This saves them from the inconvenience of traveling to specific branches and standing in long queues."

RBI assures the public that both the TLR and insured postal service options are highly secure, with approximately 700 TLR forms already deposited at the Delhi office alone.

Exchange and Deposit Facilities at RBI Issue Offices

The RBI has made exchange and deposit facilities available at its 19 Issue Offices across the country since May 19, 2023. Starting from October 9, 2023, these RBI Issue Offices will also accept Rs 2,000 banknotes from individuals and entities for direct deposit into their bank accounts. Furthermore, individuals can send their Rs 2,000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for crediting to their bank accounts in India.

As per the Reserve Bank's data, Rs 2,000 banknotes amounting to Rs 3.65 lakh crore were in circulation as of May 19, when the withdrawal was announced. As of October 31, 2023, over 97 percent of these Rs 2,000 banknotes, equivalent to Rs 0.10 lakh crore, have been returned.

Special Arrangements for Depositors
RBI Governor Shaktikanta Das has ensured that special arrangements have been made at the regional office in Delhi for the convenience of senior citizens and 'divyangjan.' Additionally, a separate queue is available for those depositing 2-3 Rs 2,000 currency notes.

Choice Between Exchange and Direct Crediting
Under the RBI's directive, individuals have the choice to either exchange their high-value currency or have the equivalent sum credited to their bank accounts at any of the folwing 19 RBI offices: Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

RBI Governor Stresses Vigilance in Sustaining Inflation Decline