RBI Grants More Time: Deadline Extended to Swap ₹2000 Notes Until October 7
In a move aimed at facilitating a smoother transition for the public, the Reserve Bank of India (RBI) has extended the deadline for the exchange of ₹2000 banknotes until October 7. This extension comes after the RBI’s initial announcement on May 19 regarding the withdrawal of ₹2000 banknotes from circulation, with the original deadline set for September 30, 2023.
The extension of the deadline is intended to provide individuals with additional time to deposit or exchange their ₹2000 notes, thereby reducing the likelihood of last-minute complications. The RBI has made these services available at its 19 regional offices for the convenience of the public.
According to RBI data, as of May 19, ₹2000 notes with a total value of ₹3.56 lakh crore were in circulation. As of September 29, banks have received ₹3.42 lakh crore worth of ₹2000 notes, leaving only ₹0.14 lakh crore worth of these notes still in circulation.
RBI, in a statement, disclosed that approximately 96 percent of the ₹2000 notes in circulation as of May 19 have already been returned. The statement reads, ‘As the period specified for the withdrawal process has come to an end, and based on a review, it has been decided to extend the current arrangement for the deposit or exchange of ₹2000 banknotes until October 7, 2023.’
Irish Samachar English News
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar.
Comments are closed.