[ad_1]
MUMBAI: The RBI on Saturday said entities still holding Rs 2,000 currency notes can deposit or exchange those at any bank branch till October 7, after the initial deadline ended during the day. From October 8, only 19 RBI branches will accept these notes.
It, however, said that these notes will continue to be legal tenders, meaning the general public can use these for monetary transactions.
On Saturday, RBI said 96% of Rs 2,000 denomination notes that were outstanding as of May 23, 2023, had been returned to it. Notes worth Rs 14,000 crore were still in circulation.
Effective October 8, no bank branch will accept Rs 2,000 notes for deposit or for exchange. From that day, these notes could be exchanged by individuals/entities only at 19 designated offices of the RBI with a limit of Rs 20,000 at a time, it said.
These facilities to deposit and exchange these notes will continue “till further advice”, the RBI said.
It, however, said that these notes will continue to be legal tenders, meaning the general public can use these for monetary transactions.
On Saturday, RBI said 96% of Rs 2,000 denomination notes that were outstanding as of May 23, 2023, had been returned to it. Notes worth Rs 14,000 crore were still in circulation.
Effective October 8, no bank branch will accept Rs 2,000 notes for deposit or for exchange. From that day, these notes could be exchanged by individuals/entities only at 19 designated offices of the RBI with a limit of Rs 20,000 at a time, it said.
These facilities to deposit and exchange these notes will continue “till further advice”, the RBI said.
#October #deadline #surrendering #notes #India #News
