Reserve Bank of India (RBI) to exchange and/or deposit Rs 2,000 notes expired yesterday (October 7, 2023). It may happen that you still have Rs 2,000 notes with you. The banks can neither accept it to deposit in your bank account nor exchange it, as per RBI rules. It is important to note that Rs 2,000 note continues to remain legal tender even now.
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.»
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.
Can you exchange Rs 2000 notes at the post office? Here is what the Department of Post says
According to the FAQs