RBI Extends Deadline to Exchange Rs 2,000 Notes Till October 7
The Reserve Bank of India (RBI) has prolonged the final date to change Rs 2,000 notes until October 7, 2023. The in advance closing date to deposit or trade the ones notes become September 30, 2023.
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The RBI has prolonged the closing date so that you can provide people extra time to exchange their Rs 2,000 notes. The important financial institution has stated that it has obtained requests from various quarters to boom the closing date.
The RBI has moreover said that it is dedicated to making sure that each one Rs 2,000 notes are withdrawn from motion in a easy and orderly way.
How to alternate Rs 2,000 notes:
You can change Rs 2,000 notes at any bank department or RBI place of job in India. You will need to preserve a legitimate ID proof with you even as you visit change the notes.
The RBI has stated that there is no limit on the quantity of Rs 2,000 notes that you may change. However, you’ll need to offer a PAN card if you are replacing extra than Rs 50,000 in coins.
What happens if you don’t trade Rs 2,000 notes via the cut-off date?
If you do not alternate your Rs 2,000 notes with the resource of the cut-off date, they will end up invalid. You will now not be able to use them to make bills or to deposit them into your financial institution account.
Why did the RBI withdraw Rs 2,000 notes from circulate?
The RBI withdrew Rs 2,000 notes from circulate in November 2016. The essential bank stated that it have become doing this to fight counterfeiting and black cash.
The RBI has stated that it has accomplished its targets with the withdrawal of Rs 2,000 notes. The treasured monetary group has stated that there was a tremendous decline within the range of counterfeit notes in movement. The RBI has also said that there was a decline in the use of black cash within the economic system.