Reserve Bank of India (RBI) Rs 2000 It has been announced to withdraw the note from circulation, after which many questions have started arising in the minds of the people. Like when and where the note can be changed. What will be the limit of exchange of notes in a day? If there is no account in the bank, then how can 2000 notes be exchanged in such a situation. Many people have started circling the banks with the announcement. To help you, we are here to answer every question.
2000 notes will be changed from this day
From May 23, Rs 2,000 notes can be exchanged and deposited in banks. RBI has asked the banks to provide the facility of depositing and exchanging these notes till 30 September. That is, there is no use in visiting the bank before 23rd May.
How many notes can be exchanged at a time
Only Rs 20,000 notes will be exchanged at a time. RBI has not clarified the maximum denomination of Rs 2,000 notes that a person can deposit in banks. But he has said that only 10 notes can be changed at a time.
Where will you be able to exchange notes till 30 September?
Rs 2,000 note will remain legal tender till September 30. People can deposit the Rs 2,000 note in their bank accounts or take notes of other denominations by visiting banks and 19 regional offices of the RBI.
Rs 2000 Note: Don’t have a bank account, don’t worry, this is how you can change Rs 2000 notes
Two thousand notes can be deposited in bank accounts without any hindrance. However, this is subject to meeting Know Your Customer (KYC) norms.
Bank account holders can exchange Rs 2,000 notes up to Rs 4,000 through bank representatives.
In November 2016, a two thousand rupee note was issued after the old 500 and 1,000 rupee notes were removed from circulation.
It was being said that the two thousand rupee note was allegedly being used to accumulate black money and convert black money into white. In view of this, it was decided to remove the Rs 2,000 note from circulation.
RBI had stopped printing Rs 2,000 notes from the financial year 2018-19.
About 89 percent of the two thousand rupee notes were issued before March 2017.
In March 2018, the share of two thousand rupee notes in the total notes in circulation was 37.3 percent, which decreased to 10.8 percent on March 31, 2023. In terms of value, in March 2018, notes worth Rs 6.73 lakh crore were of Rs 2,000, while on March 31, 2023, their value remained Rs 3.62 lakh crore.
