Hyderabad: The Reserve Bank of India, in a press release on Saturday announced that the deadline for the exchange of Rs. 2000 notes will be extended till October 7.
The central bank on May 19 had announced the withdrawal of Rs. 2000 banknotes with the deadline of exchange or return being September 30.
The extension of the deadline appears to be aimed at providing more time for people to return or exchange the notes without any hassles. The central bank has also listed out the procedure of depositing the notes after the extended deadline of October 7.
Advertisements
Procedure from October 8
- The deposit/exchange at banks will be stopped
- Rs. 2000 banknotes can continue to be exchanged by individuals/entities at the 19 RBI Issue Offices up to a limit of Rs. 20,000 at a time.
- Individuals / Entities can tender Rs. 2000 banknotes at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.
- Individuals / Entities from within the country can also send Rs. 2000 banknotes through India Post, addressed to any of the 19 RBI Issue Offices for credit to their bank accounts in India.
- Such exchange or credit shall be subject to relevant RBI / Government regulations, submission of valid identity documents, and due diligence as deemed fit by RBI.
- Courts, law enforcement agencies, government departments, or any other public authority involved in investigation proceedings or enforcement, may, as and when required, deposit/exchange Rs. 2000 banknotes at any of the 19 RBI Issue Offices without any limit.
According to RBI, the currency notes will remain to be legal even after the deadline but will not be accepted for transactions. The notes however, can be exchanged only with RBI.
The RBI said on September 1 that about 93% of the notes have returned to the banking system since May 2023 and that the total value of the notes taken out of circulation was Rs. 3.32 lakh crore up to August 31, it said in a statement earlier.
Advertisements
Next Story:
-
BRS Celebrates 23rd Foundation Day Across Telangana
BRS celebrated its 23rd Foundation Day across the State, today, the party, founded as Telangana Rashtra Samithi by K.Chandrashekhar Rao and others who were strong sympathisers for the separate Telangana state in the year 2001, was renamed as BRS by transforming into a national party in 2022.
-
Youth Booked For Women Harassment In Kacheguda
A youth was booked for allegedly harassing a woman on a popular social networking platform on the pretext of love in Kacheguda on Saturday.
-
CM Revanth Meets CPM Leaders
Ahead of the Lok Sabha elections, Chief Minister Revanth Reddy sought the support of the CPM State unit for the Congress party in Bhongir and other parliamentary constituencies in the state.
-
Sameer Waliullah Calls on People to Vote Thoughtfully in Lok Sabha Elections 2024
Hyderabad DCC President Mohammed Sameer Waliullah called on the people of Hyderabad to vote thoughtfully in the upcoming general elections.
-
ISRO Employee Held For Job Fraud at Kacheguda
An ISRO employee was arrested on charges of cheating a job aspirant to the tune of Rs. 20 lakhs promising a job in the organization at Kacheguda on Friday.
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram