New Delhi. Now one hour is left to deposit the Rs 2000 note in the bank or exchange it for another note. After bank closure today, from tomorrow i.e. 8th October, these notes can be exchanged only in RBI offices. On Friday, RBI Governor Shaktikanta Das said that currently Rs 2000 notes worth Rs 12 thousand crore are in circulation, which are yet to arrive.
At the same time, more than 96% of Rs 2000 notes have returned to the bank, whose value is ₹ 3.43 lakh crore. Out of this, 87% notes have been deposited in the bank. The remaining notes have been exchanged for other notes. Earlier, the last date for exchanging notes was 30 September, but RBI had extended this deadline to 7 October 2023.
After October 7, notes will be changed in RBI office
After the deadline for depositing notes in the bank, Rs 2000 notes can be exchanged or deposited in 19 issue offices of RBI. 2000 notes up to 20 thousand rupees can be exchanged at a time. On the other hand, if you want to get it credited to your bank account, then you can deposit any number of ₹ 2000 notes through the issue office.
2000 note came in 2016
The Rs 2000 note came into the market in November 2016. Then Prime Minister Narendra Modi had announced the demonetization of 500 and 1000 rupee notes. In their place, new notes of Rs 500 and Rs 2000 were issued in the new pattern. However, RBI has stopped printing of Rs 2000 notes from the year 2018-19. Whereas in 2021-22, Rs 2000 notes worth Rs 38 crore were destroyed.
Is any document required to exchange notes?
No, these notes can be easily exchanged without any document by going to the bank. Banks have also been informed about this so that there is no problem in exchanging notes. ₹2000 notes can be exchanged for other denominations up to a limit of ₹20,000 at a time. There is no limit for depositing it in the account.
Can notes be exchanged in any bank without an account?
Yes. Non-account holders can also get ₹ 2000 notes exchanged to other denominations up to a limit of ₹ 20,000/- at any bank branch at a time.
Is this decision a correction of mistake on the part of the government?
₹2000 notes were printed to meet the shortage of ₹500 and ₹1000 notes which were discontinued in 2016. When notes of other denominations became available in sufficient quantity, printing of Rs 2000 notes was stopped in 2018-19. That is, it cannot be said directly that taking Rs 2000 notes out of circulation is a correction of the government’s mistake.
Why has RBI taken this decision?
The Reserve Bank has taken this decision under the ‘Clean Note Policy’. ‘Under the Clean Note Policy, people have been requested not to write anything on currency notes, because doing so spoils their appearance and also reduces their life. Clean Note Policy has been implemented to achieve the goal of providing good quality bank notes (paper currency) to people for transactions.
To whom is this applicable?
This decision is applicable for everyone. Every person who has Rs 2000 notes will have to deposit them in any branch of the bank or exchange them for other notes by 7 October 2023.
: Language Inputs
This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.