September 30 last date to submit Rs 2,000 notes, but no rush seen at banks
Bankers say most notes have returned to the system; some believe the RBI may extend the deadline.
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Bankers say most notes have returned to the system; some believe the RBI may extend the deadline.
The Reserve Bank of India announced the withdrawal of Rs 2000 denomination banknotes from circulation while also stating that these notes will remain legal tender. The deposit and exchange facility for Rs 2000 banknotes is available until September 30, 2023.
The Supreme Court told the petitioner that he has argued that RBI should take steps to reduce black money. “But tracking black money is a matter that falls within executive governance” | Latest News India
India's central bank (RBI) decided last month to withdraw the largest denomination notes from circulation, asking people to deposit or exchange them at banks by the end of September.
While speaking on ₹2,000 notes he further added, "On provisional basis, about 85 per cent of ₹2,000 notes are coming back as deposits into bank accounts."