The month of October is important for completing many important tasks and the most important one at the moment is 2000 Rupee Note. If you still have these notes, then there is still a chance to deposit them in the bank.
If you fail to deposit or exchange them within two days, then you may have to face problems. The Reserve Bank of India (RBI) had announced the removal of these pink notes from circulation on May 19 and had given the facility for their return till September 30, 2023. However, by the time the deadline was over, this last one was extended, which is very near.
RBI had extended the deadline by 7 days
The deadline for demonetised Rs 2,000 notes was extended by seven days to October 7, 2023, and is set to expire in two days. While announcing the extension of the deadline by RBI, the data of return of notes was also presented. According to RBI, by September 29, 2023, 96 percent of the Rs 2,000 notes in circulation have been returned. As of March 31, these high notes worth Rs 3.56 lakh crore were present in the country, out of which notes worth Rs 3.43 lakh crore had been returned, while Rs 0.14 lakh crore were present in the market.
What are the options after the deadline?
It is noteworthy that when the Central Bank had taken out Rs 2,000 notes from circulation, it had also made arrangements for their return. People were provided the facility to exchange these pink notes with them in banks and 19 regional offices. Now that the deadline for this important work is coming to an end, it is also important to know that if someone is left with these notes after October 7, then what will happen to them?
RBI has said that in this situation you will not be able to deposit these notes by going to the bank, but even after October 7, Rs 2,000 notes can be exchanged from 19 regional offices of RBI. Keep in mind here that notes of more than Rs 20,000 cannot be exchanged at a time.
These notes came into existence after demonetization
The Rs 2,000 note was launched in the market in November 2016. It came into the market when the government had announced to remove the largest currency notes in circulation i.e. Rs 500 and Rs 1000 from circulation. After demonetization, the Reserve Bank had issued a new note in place of the discontinued Rs 500 note and also issued a Rs 2,000 note in place of the Rs 1,000 note.
However, when notes of other denominations came in sufficient quantity in circulation, RBI stopped printing of Rs 2000 notes from the year 2018-19. After this, on May 19, 2023, it was announced that this big note would be taken out of circulation under the Clean Note Policy.