RBI had reported the withdrawal of ₹2000 banknotes from dissemination on May 19. It had requested that the majority trade their notes by September 30, 2023. The expansion of the cutoff time gives off an impression of being pointed toward giving an additional opportunity to the majority to store the notes without last-minute issues.
RBI Said 96 Percent of Notes Have Been Returned
As per RBI information, on May 19, ₹2000 notes of the complete worth ₹3.56 lakh crore were available for use. The banks have gotten ₹3.42 lakh crore worth of ₹2000 notes back as of September 29. This implies just ₹0.14 lakh crore worth of notes are still available for use.
RBI said in an explanation that around 96% of ₹2000 notes available for use as of May 19 has been returned.
Procedure For Deposit/Exchange Of 2000 Notes
With impact from October 08, 2023, the strategy for store/trade of ₹2000 banknotes will be as under:
- The store/trade at bank offices will be halted.
- ₹2000 banknotes can keep on being traded by people/elements at the 19 Issue Workplaces up to the furthest reaches of ₹20,000/ – at a time.
- People/Elements can delicate ₹2000 banknotes at the 19 RBI Issue Workplaces for credit to their financial balances in India for any sum.
- People/Substances from inside the nation can likewise send ₹2000 banknotes through India Post, addressed to any of the 19 RBI Issue Workplaces for credit to their ledgers in India.
The RBI statement further said that courts, policing, government divisions or some other public power engaged with examination procedures or authorization can trade ₹2000 banknotes at its 19 Issue Workplaces with next as far as possible.
These banknotes keep on excess legitimate delicate, it added.