May 19, 2023: The Reserve Bank of India (RBI) said on Friday The Rs 2,000 note will be withdrawn from circulation. I wonder what to do with the money you have? Find answers to all your questions in this guide.
When will banks start cashing/depositing Rs 2,000 notes?
Banks will start disbursing/depositing Rs 2,000 notes from May 23, 2023.
What should the public do with the 2,000 rupee notes they are holding?
One can visit the nearest bank branch and start the process of cashing/depositing when the window to do so starts on May 23, 2023.
What is the last date for exchange/deposit of Rs 2,000 banknotes?
September 30, 2023 is the last date for exchange/deposit of Rs 2,000 banknotes.
Where can I redeem/deposit Rs 2,000 banknotes?
You can exchange/deposit Rs 2,000 notes at any bank branch till the deadline of 30th September.
The exchange facility will also be available in 19 regional offices.
Commercial Correspondents of Banks are also allowed to exchange notes up to a maximum of Rs 4,000 per day for the account holder. Commercial Correspondents are extended arms of banks that provide services in unbanked and unbanked areas. Banks may also deploy mobile vans to extend this facility in villages.
How many papers can I deposit?
You can deposit any number of Rs 2,000 notes into your account as long as your account is KYC compliant.
How many banknotes can I exchange?
You can exchange up to 10,000 rupees worth of banknotes at a time.
Is it necessary to be a customer of the bank to exchange Rs 2,000 notes from its branches?
no. Account holders who do not have an account can also exchange these notes at any bank branch.
Are there any fees to be paid for the exchange facility?
The exchange facility number is free.
Will there be special arrangements for the elderly, people with disabilities, etc., to exchange and deposit?
Banks have been instructed to make arrangements to minimize inconvenience to senior citizens, people with disabilities, etc., in an effort to exchange/deposit Rs 2,000 notes.
What will happen if the bank refuses to exchange/accept a deposit of Rs 2,000 notes?
Customers can first contact the respective bank. If the Bank does not respond within a period of 30 days after submitting the complaint or if the Complainant is not satisfied with the response/resolution provided by the Bank, he can file the complaint under the Reserve Bank Integrated Ombudsman System (RB- IOS), 2021 in the RBI Complaint Management System Portal.
here How to file a complaint with the RBI!