Here is what you can do after the expiry of the Rs 2,000 note exchange, deposit deadline.
As per the RBI notification dated September 30, 2023 “With effect from October 8, 2023, banks shall stop accepting Rs 2000 banknotes for credit to accounts or exchange to other denomination banknotes. Rs 2000 banknotes shall continue to be allowed to be presented at the 19 Regional Offices of RBI having Issue Departments (RBI Issue offices) for credit to the bank accounts in India or exchange.”
Go to RBI Issue offices to exchange, deposit Rs 2000 notes
If you want to deposit and/or exchange Rs 2,000 notes, an individual will be required to visit any of the 19 RBI issue offices to either exchange it or deposit it any bank account. An individual can also send the notes through India Post to any of these 19 offices.
“Individuals / Entities from within the country can send Rs 2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India. Such credit shall be subject to relevant RBI / Government regulations, submission of valid identity documents and due diligence as deemed fit by RBI,” said the RBI in an updated FAQ as of September 30, 2023.
According to the FAQs issued by RBI on Rs 2000 notes (updated as of September 30, 2023), the 19 RBI regional offices are: Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
Deadline to exchange, deposit Rs 2000 notes at RBI regional offices?
The RBI is yet to notify any deadline to exchange, deposit Rs 2000 notes at the 19 RBI regional offices. As per the RBI notification, “The above facility for deposit / exchange of Rs 2000 banknotes at the 19 RBI Issue Offices shall be available till further advice.”However, individuals should not wait till further instructions to exchange and/or deposit the Rs 2000 notes. One must do the same as soon as possible.
Limits on exchange, deposit of Rs 2000 notes
There is a limit on the amount of Rs 2000 notes that can be exchanged. “Rs 2000 banknotes can continue to be exchanged by individuals/entities at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time,” said the RBI.
There is no maximum limit on the amount of Rs 2000 notes that can be credited in the bank account.
Documents needed for exchange, deposit of Rs 2000 notes
The RBI has said that exchange or credit shall be subject to relevant RBI/Government regulations, submission of valid identity documents and due diligence as deemed fit by RBI.
Hence, it is advisable to carry official valid documents for KYC such as PAN, Aadhaar, Driving License etc. for exchanging Rs 2000 notes. Along with the KYC documents, one must also carry the details of their bank account in which money is to be credited at the RBI offices.
