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People can deposit and exchange their Rs 2,000 notes at the bank from today, May 23 onwards. Watch this Visual Story to check SBI, PNB, HDFC Bank guidelines on Rs 2,000 note exchange, deposits.
The RBI said that for depositing Rs 2,000 notes, customers can go to their bank and submit the money in their own accounts. There is no deposit limit but general KYC and other existing statutory norms for cash deposit will apply.
In a surprise move by the RBI, the Rs 2000 notes have been recalled and are set to be withdrawn from circulation, with all consumers asked to exchange or deposit the notes.
Rs 2000 Currency Notes Exchange: The total value of such banknotes in circulation has declined from Rs 6.73 lakh crore at its peak as on March 31, 2018 (37.3 per cent of notes in circulation) to Rs 3.62 lakh crore constituting only 10.8 per cent of notes in circulation as on March 31, 2023.
The bank clarified that the Rs 2000 notes will continue to be legal tender even after September 30.