RBI clarifies: Last date to exchange ₹2,000 notes is 30 Sept, ‘will just be another piece of paper if not exchanged'

livemint.com:

₹2,000 denomination banknote will cease to have its value after 30 September and will be just another piece of paper if one does not get it exchanged in any bank, as reported by news agency ANI. This clarification came a day after reports suggested that 30 September deadline to return ₹2000 notes is likely to get extended till October end. On 19 May, RBI removed the ₹2000 notes from circulation and gave nearly four months to deposit or exchange the notes. The last date given by RBI to exchange or deposit these notes was 30 September which is today.

If it is still pending, individuals still have today's time as Banks will remain open today due to 5th Saturday. They can go to their nearest bank branch and get the ₹2000 notes exchanged or deposit. They can exchange or deposit their ₹2,000 notes in bank branches and regional branches of RBI.

A non-account holder can also exchange ₹2000 banknotes up to a limit of ₹20,000 at a time at any bank branch. After 30 September, though the notes will continue to remain legal tender, however, they will not be accepted for transaction purposes and can only be exchanged with the RBI. Earlier on 2 September, RBI had said that as much as 93 percent of ₹2000 banknotes that were in circulation on May 19 have been returned to banks.

Data collected from major banks indicated that out of the total banknotes in ₹2000 denomination received back from circulation, about 87 percent is in the form of deposits while about 13 per cent has been exchanged into other denomination banknotes. However, a report by Bloomberg also stated that there is still almost 240 billion rupees or $2.9 billion worth of the notes in circulation. While the vast majority of the 3.56 trillion rupees have since been banked, 7