RBI extends last date for exchange of Rs 2000 notes to October 7

financialexpress.com:

The Reserve Bank of India on Saturday announced the extension of the deadline for exchange of Rs 2000 notes. According to the post shared by the central bank on X (formerly Twitter), the new deadline for Rs 2000 currency notes exchange is October 7. The RBI had announced the withdrawal of Rs 2000 notes from the circulation on May 19 earlier this year. The old deadline for exchanging the banknotes was September 30, 2023.

The official data by the RBI says that as of May 19,2023, the total value of Rs 3.56 lakh crore of RS 2,000 banknotes were in circulation. The RBI data further stated that Rs 3.42 lakh crore has already been received.

September 30 was the last decided date for the exchange of currency notes. However, the extension given by the RBI will give the public more adequate time to complete the exercise. The RBI tweeted on X (formerly Twitter) about the extension of date.

₹2000 Denomination Banknotes – Withdrawal from Circulation – Reviewhttps://t.co/hOpOpA0J94

The notes of Rs 2,000 can be deposited in bank branches and regional branches of RBI. A person that does not hold an account can also exchange the banknotes up to a limit of Rs 20,000 at a time at any branch of the bank. 

After the Rs 2,000 denomination banknotes were withdrawn from circulation, the RBI had said that it would still remain legal tender. Banks were also advised by RBI to stop issuing such banknotes with immediate effect. 

Individuals have the option to deposit these currency notes into their Indian bank accounts at Issue Offices or send them via India Post to any of the 19 Issue Offices for crediting. Furthermore, the statement specifies that courts, law enforcement agencies, government departments, or any public authority involved in