RBI extends Rs 2,000 note exchange date to October 7

The Reserve Bank of India (RBI) has extended the deadline for exchanging Rs 2,000 banknotes to October 7, 2023. The earlier deadline was September 30, 2023.

The RBI announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023. The central bank said that the decision was taken to "reduce the use of cash and promote digital payments".

RBI extends Rs 2,000 note exchange date to October 7

As of September 29, 2023, 96% of the Rs 2,000 banknotes in circulation have been returned to the banking system. However, the RBI said that it has decided to extend the deadline for exchange to provide more time to the public to deposit or exchange their Rs 2,000 banknotes.

How to exchange Rs 2,000 banknotes

Rs 2,000 banknotes can be exchanged at any bank branch or RBI issue office. To exchange Rs 2,000 banknotes, individuals will need to provide their valid government-issued identity proof.

After October 7, 2023

After October 7, 2023, Rs 2,000 banknotes will still be legal tender. However, they will only be exchanged at RBI issue offices. Individuals will need to provide a valid government-issued identity proof and fill out a form to exchange Rs 2,000 banknotes at RBI issue offices.

The RBI has advised the public to exchange their Rs 2,000 banknotes at the earliest to avoid any inconvenience.