The Reserve Bank of India (RBI) on Saturday extended the last date to exchange and deposit Rs 2,000 notes till October 7, 2023.
“As the period specified for the withdrawal process has come to an end, and based on a review, it has been decided to extend the current arrangement for deposit / exchange of ₹2000 banknotes until October 07, 2023,” the RBI said in an official statement.
The earlier deadline for returning Rs 2,000 notes was set to expire today.
The banker’s bank further said that banks will stop accepting Rs 2,000 notes for exchange from October. However, people can till exchange Rs 2,000 notes at 19 offices of the RBI. The notes can also be sent by post to the RBI’s “issue offices” by India Post.
As per RBI, it has has received Rs 3.42 lakh crore worth of Rs 2,000 notes from a total of Rs 3.56 lakh crore in circulation as on May 19. This has left only Rs 0.14 lakh crore worth of Rs 2,000 notes in circulation till September 29.
The data shows 96 per cent of the Rs 2,000 banknotes in circulation as on May 19 has since been returned.