2000 notes exchange or deposit deadline: If you still have Rs 2,000 notes and have not deposited or exchanged them yet, make sure to do so before this deadline. You still have 2 days i.e. Friday and Saturday.
The time period prescribed by RBI for depositing or exchanging Rs 2,000 notes will end on 30 September 2023 i.e. this Saturday. If you still have Rs 2,000 notes and have not deposited or exchanged them yet, make sure to do so before this deadline.
It is important to note that the Reserve Bank of India has not withdrawn the legal tender status of the Rs 2,000 note. This means that the Rs 2,000 note will remain legal tender even after the expiry of the expiry date.
Will RBI extend the September 30 deadline?
According to RBI’s update of September 1, 93% of the Rs 2000 bank notes have returned. Most of the notes have returned to the banking system, so there is little possibility of extending the deadline for depositing and exchanging Rs 2000 notes.
What will happen after 30th September?
Legal tender condition of Rs 2000 note continues. In such a situation, the question arises that what are the possible options a person can have for those Rs 2000 notes which have not been deposited or exchanged before the expiry of the deadline. The legal tender status indicates that the RBI will have to provide some avenues to redeem the monetary value of these notes.
Transactions will not take place but deposits may continue to be permitted
It is possible that RBI may ban the use of Rs 2000 note for transaction purposes after September 30, but allow individuals to deposit the notes in their bank accounts.
Reserve Bank may allow exchange of notes in its offices
RBI may allow exchange of Rs 2000 notes after September 30 only in its offices on presentation of ID and address proof. RBI, while withdrawing Rs 2000 notes from circulation, had allowed exchange of Rs 2000 notes with a limit of Rs 20,000 at a time from any bank till September 30.
