What will happen to your 2000/- Rupee note now – Key things you should know.
As per the circular issued by the Reserve Bank of India with regard to its clean note policy, they have decided to withdraw the currency note of Rs. 2000/-, but it will continue to be a legal tender. RBI has observed that other denomination Rupee notes are sufficient to meet the demand of people and hence these notes could be withdrawn.
Key things to note for 2000/- rupee notes are :
- The note exchange and deposit deadline issued by RBI is 30 September 2023, which means you can either deposit your 2000 rupee note in the account or get it exchanged by banks.
- For deposit – The key point to note here is you can deposit n number of 2000/- rupee notes in your bank account without any restriction but subject to applicable statutory provisions.
- For conversion – You can exchange only up to Rs.20,000 I.e. only 10 notes of 2000/- at a time.
- What will happen after 30 September – This situation is still not clear, whether they will continue to be a legal tender or not. Clarification in this regard is still awaited from RBI
The deposit process is still the same, no extra effort is required from the general public side to deposit money in their account.