New Delhi: The Reserve Bank of India (RBI) has announced an extension of the last date to exchange ₹2,000 notes at banks until October 7, as per a statement released today. Notably, the ₹2,000 note will continue to be valid even after the exchange deadline lapses, extending beyond the previous cutoff date, which was today.
Commencing from October 8, banks will cease to accept ₹2,000 notes for exchange. However, individuals still have the option to exchange their ₹2,000 notes at 19 designated RBI offices. Additionally, these notes can be sent via postal services to the RBI’s “issue offices” through India Post.
The RBI has disclosed that it has received ₹3.42 lakh crore worth of ₹2,000 notes out of the total ₹3.56 lakh crore that was in circulation as of May 19. This leaves only ₹0.14 lakh crore worth of ₹2,000 notes in circulation as of September 29.
Data indicates that 96 percent of the ₹2,000 banknotes in circulation as of May 19 have been returned to the RBI.
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