New Delhi: The Reserve Bank of India (RBI) wont be exchanging or depositing Rs 2000 notes on April 1 at its 19 offices due to operations associated with the annual closing of accounts. The service will resume on April 2, according to an announcement by the central bank.
Heres why service will not be available on April 1The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 01, 2024, at the 19 Issue Offices of the Reserve Bank of India due to operations associated with the Annual Closing of Accounts. The facility will resume on Tuesday, April 02, 2024, RBI said.
Its important to note that individuals have had the opportunity to exchange Rs 2,000 notes at the 19 RBI offices situated across different cities. However, due to the annual closing of accounts, this service will temporarily cease on April 1st and resume the following day.
These 19 RBI issue offices are: ol^People from within the country can send Rs 2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts in India. September 30 was initially decided as the last date to complete the exchange and deposit exercise in a time-bound manner and to provide adequate time to the public. People were requested to utilise the month of September to deposit or exchange their Rs 2000 banknotes to avoid any rush at the last moment.
However, the RBI, based on a review, decided to extend the arrangement for deposit and exchange until October 7, 2023. The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.
97.62 per cent of Rs 2000 notes returnedAs of February 29, nearly 97.62% of the Rs 2,000 notes have been returned to the banking system. Only approximately Rs 8,470 crore worth of the withdrawn notes remain with the public.
