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The Rs 2000 note had been introduced in 2016 in an effort to rapidly remonetise the economy after Prime Minister Narendra Modi announced that the high-denomination Rs 500 and Rs 1000 notes were being withdrawn as part of the fight against black money.
Starting tomorrow, only the RBI will accept Rs 2,000 banknotes for exchange, , Rs 2000 note, banned, reserve bank of indis
The Reserve Bank of India Governor Shaktikanta Das on Friday said only about Rs 12,000 crore (or 3.37 per cent) of the currency notes remain in circulation.
The Reserve Bank of India (RBI) has extended the deadline for exchanging Rs 2,000 notes until October 7, 2023. According to the RBI, about 96% of the Rs 2,000 banknotes have been returned to the banking system since the decision to withdraw the note from circulation. Starting from October 8, all branches will cease the procedure for exchange or deposit of the currency.
The last date to exchange Rs 2,000 notes at banks has been extended till October 7, the Reserve Bank of India (RBI) said in a statement today. The RBI said the Rs 2,000 note will remain valid even after the deadline to exchange ends.