Forgot to deposit the 2000/- Rupee note till the last date, What to do now? Here is the solution…
RBI had issued the deadline for depositing 2000/- rupee bank notes, earlier the deadline was 30 September 2023 but later RBI extended it till 7 October 2023.
But does it mean that a 2000 rupee note will not be legal tender after 7 October 2023?
The answer is NO, The 2000/- rupee note will continue to be a legal tender but you will be able to deposit/exchange it only at the RBI office.
What is the solution after you have missed the deadline?
As per the Reserve Bank Of India, 2000/- rupee bank notes can only be exchanged at the RBI authorized Offices, and the two methods to exchange or deposit your money are:
- 2000 rupee notes can be sent via Indian Post addressed to the authorized RBI offices as per the laid down procedures and the amount will be deposited in the bank account. this is one of the easiest ways that has been given by RBI for the ease of citizens of India. The amount will be credited to the account after verification of Authorised documents as required and due diligence by the Reserve Bank Of India.
- Another option is to visit the authorized RBI branch and deposit/exchange the amount by yourself.
This facility is available till further notice issued by RBI
Reason for withdrawal of 2000/- rupee banknotes
The main purpose of issuing of 2000/- rupee note was to meet the requirement of currency as 500 and 1000 rupee notes were withdrawn from the market.
As observed in this scenario 2000/- rupee notes are not used as much, and other currency denominations are sufficient to fulfill the requirements. Hence RBI decided to withdraw 2000/- rupee notes from the market.