Banks will not accept Rs 2,000 notes for exchange from October 8. However, there are still 19 RBI locations where customers can exchange notes worth Rs 2,000.
Digital Desk: The Reserve Bank of India (RBI) announced today that the deadline to exchange Rs 2,000 notes at banks has been extended till October 7. The Rs. 2,000 note will continue to be legal tender long after the exchange deadline has passed, according to the RBI. The previous deadline was yesterday.
Banks will not accept Rs 2,000 notes for exchange from October 8. However, there are still 19 RBI locations where customers can exchange notes worth Rs 2,000. India Post also offers the option of mailing the notes to the RBI's "issue offices" via India Post.
From the total amount of Rs 3.56 lakh crore in circulation as of May 19, the RBI reported receiving Rs 2,000 notes worth Rs 3.42 lakh crore. As a result, as of September 29, there were only Rs 0.14 lakh crore worth of Rs 2,000 notes still in use.
According to the data, 96% of the Rs 2,000 banknotes that were in use on May 19 have now been returned.
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