Still holding Rs 2,000 notes? No worries, here’s how you can exchange them
31 Oct 2023 13:32:27
As the festive season of Diwali approaches, homes across India are undergoing a thorough cleaning and decluttering, uncovering hidden treasures and long-forgotten items. Among the surprises that might emerge from the depths of closets and drawers are the old ₹2,000 notes that were once a common sight in people's wallets.
Thought the the Reserve Bank of India's (RBI) deadline for exchanging or depositing the now discontinued Rs 2,000 notes, has ended on October 7 it's important to note that these notes still hold their legal status as valid currency, and there's no need to panic if you find them while cleaning.
If you're among those who finds these Rs 2,000 notes during your Diwali cleaning spree and wonder what to do next, here's some valuable information. Although you can no longer exchange or deposit these notes at regular banks, there's still a way to get them exchanged.
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
It is important to note that, any person, even a non-account holder, can exchange Rs 2000 banknotes up to a limit of Rs 20,000 at a time at any bank branch.
Is it necessary to visit RBI in person for deposit, exchange of Rs 2000 banknotes?
Alternatively, you can send the notes via India Post to these RBI 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.The 19 RBI issue offices include Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
Documents required
To exchange or deposit these notes, you will need valid identity documents such as PAN, Aadhaar, or a Driver's License for KYC (Know Your Customer) compliance.
Additionally, ensure that you have your bank account details on hand for the credit process. Although the deadline for exchanging or depositing Rs 2,000 notes in banks has passed, they still hold value.
Any dead line?
It is worth noting that the RBI has not specified a deadline for exchanging or depositing Rs 2,000 notes at its regional offices. The facility will be available "till further advice."