The deadline for exchanging 2,000 notes at banks has been extended until October 7

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The deadline for exchanging 2,000 notes at banks has been extended until October 7

The deadline for exchanging 2,000 notes at banks has been extended until October 7

Beginning October 8, banks will no longer accept 2,000 notes for exchange. However, beginning October 8, consumers can still swap 2,000 notes at the RBI’s 19 locations.

New Delhi, India – The deadline for exchanging 2,000 notes at banks has been extended till October 7, according to a statement issued by the Reserve Bank of India (RBI) today. The RBI stated that the 2,000 note will remain valid even after the exchange deadline has passed. Today was the previous deadline.

From October 8, banks will no longer accept 2,000 notes for exchange. People can still swap 2,000 notes at the RBI’s 19 locations. The notes can also be mailed to the RBI’s “issue offices” using India Post.

The RBI reported receiving 3.42 lakh crore in 2,000 notes from a total of 3.56 lakh crore in circulation as of May 19. This has resulted in only 0.14 lakh crore value of 2,000 notes remaining in circulation as of September 29.

According to the data, 96% of the 2,000 banknotes in circulation on May 19 have already been returned.


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