2000 Note: The central bank has advised people to deposit Rs 2000 notes in their bank accounts. They can exchange their existing Rs 2,000 notes for bank notes of other denominations at any bank branch. RBI has also given some rules for depositing and exchanging 2000 rupee notes in bank branches.
RBI: It has been announced to withdraw 2000 rupee notes in the country. RBI is withdrawing these notes. On the other hand, those who have 2000 rupee notes can go to the bank to exchange it or deposit it in their account. However, some important things should be taken care of before going to the bank to exchange 2000 rupee notes or deposit them in the account. Let’s know about it…
2000 Rupee Notes
The central bank has advised people to deposit Rs 2000 notes in their bank accounts. They can exchange their existing Rs 2,000 notes for bank notes of other denominations at any bank branch. RBI has also given some rules for depositing and exchanging 2000 rupee notes in bank branches.
Time limit
The facility to deposit or exchange Rs 2,000 bank notes will be available in banks till September 30, 2023. You can also exchange notes at 19 regional offices of RBI starting May 23, 2023.
Bank deposit
To deposit your existing Rs 2,000 notes, you can go to your bank and deposit the money in your savings account. There is no deposit limit. However, normal KYC and other regulatory norms will be applicable for cash deposits.
Know these rules
If you deposit more than Rs.50000 in one transaction, you need to mention your PAN details as per Income Tax rules. In addition, banks will also levy applicable service charges for crediting cash to your savings accounts, if any.
How to change 2000 rupee note
According to RBI, 10 notes of 2 thousand rupees i.e. 20000 rupees can be changed at a time. At the same time, Bank Correspondent (BC) may be allowed to exchange Rs 2,000 notes for the account holder up to a limit of Rs 4,000 per day. RBI said that for this purpose banks may, at their discretion, increase the cash holding limit of BCs.
What does RBI say
RBI said on 22 May 2023, “The facility of exchange of Rs 2000 notes over the counter will be provided to the public in the usual manner, as was being provided earlier.”
