What to do with 2,000 rupee notes? How to exchange?

All Rs 2,000 notes need to be deposited or exchanged with the bank latest by September 30, 2023

[{"selector":"#anim-26ef7984-5a77-44cc-9076-b8c97c7859de","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5bf36fe9-526c-4f18-af4c-c4d3504649c7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b169f2df-ea9f-4fb7-b838-e981cc3fb253","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

The Reserve Bank of India has announced the withdrawal of Rs 2,000 notes from circulation, under the clean note policy

[{"selector":"#anim-f2922e88-9f76-4225-8a35-98d14110a888","keyframes":{"transform":["translate3d(-114.375%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aab29117-a682-4f02-be4e-87a30f0857d7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57291e47-d72c-48a6-aa46-f9edaf6df00f","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

The RBI adopted the policy to ensure the availability of good quality bank notes to the public

[{"selector":"#anim-30047851-3163-4dfd-90ca-ff48cd14aea1","keyframes":{"transform":["translate3d(-115.78948%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-37ad4a75-df63-4c5b-8862-4adaa97d1156","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-79023704-39a0-4843-a84e-fd4c9cfde6fc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

The RBI began printing Rs 2,000 notes in 2016 after Prime Minister Narendra Modi announced the demonetisation of Rs 1,000 and Rs 500 notes

[{"selector":"#anim-15c97c23-74a4-4463-a08b-a81c9907bdb4","keyframes":{"transform":["translate3d(-115.94685%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-52816f8d-f85a-481f-acad-9b1a3ef17ab6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-227f9cc4-4987-406d-b084-71294051a7fb","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

The printing of Rs 2,000 banknotes was halted in 2018-19

[{"selector":"#anim-80c6446e-ec76-46c7-9633-c690c22eaefa","keyframes":{"transform":["translate3d(-115.28663%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ea2bfa3-0226-4866-b94d-a7d4769c1138","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3a8504fd-f5ca-437d-b8d5-ed57b86fb934","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

Nearly 89 per cent of the Rs 2,000 denomination banknotes were issued prior to March 2017

[{"selector":"#anim-4083435f-23a6-401a-ad36-a302df0aa1e6","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-23263217-e60b-478f-9c3f-060272ed499f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ca691567-e333-4f80-a175-82ec723b5e0e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

Individuals can deposit Rs 2,000 banknotes into their bank accounts, or exchange them for banknotes of other denominations at any bank branch

[{"selector":"#anim-bbb37598-3604-4c79-b42d-ffc1302009d8","keyframes":{"transform":["translate3d(-115.14196%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d357f83b-9281-4f9d-bc55-46e030d0ce06","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6d8684c6-9551-4dba-a296-285ef53ce4bf","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

Deposits can be made without restrictions and are subject to existing instructions and applicable statutory provisions

[{"selector":"#anim-73dd86cc-198e-45e2-b4ec-9bd37f83b43e","keyframes":{"transform":["translate3d(-117.14286%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b5ae6f3-cdaa-427c-8908-d05024036648","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3d53410a-b133-4c68-aac5-e5b6dc83778d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

Individuals will have the option to exchange Rs 2,000 banknotes for other denominations up to a limit of Rs 20,000 at a time

[{"selector":"#anim-c48b6fe6-c39a-4881-9ad7-6fca17f783da","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff2afbc1-34de-442f-a1c2-60d37eb5d9a5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7cde2a0b-d982-4165-9d0b-bc4824671dd9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

Additionally, from May 23, 2023, individuals can also avail the exchange facility at 19 regional offices of the RBI

[{"selector":"#anim-35e095e6-e569-4373-aa01-f9892bc4d9d2","keyframes":{"transform":["translate3d(-115.28663%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7904e70-cac1-435f-892e-fd535554fea8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ea75e0d8-b3a5-4904-99c8-13cf8d1ee00b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image Credit - Google

FOR MORE SUCH STORIES VISIT BREEZYSCROLL