PC: Oneindia Tamil
The Reserve Bank of India announced the withdrawal of Rs 2,000 notes from circulation on May 19, 2023. According to the RBI notification, Rs 2,000 notes will be taken out of circulation under the Clean Note Policy.
Six years ago, there was demonetization of Rs 500 and Rs 1,000 in the country. However, it is different from demonetization, as Rs 2,000 is being withdrawn from circulation.
RBI had fixed September 30 as the deadline for people to deposit and exchange Rs 2000 notes. But many people are wondering what will happen to those notes and what if someone fails to deposit them. Here are all your questions answered:
PC: Dailyo
What if you fail to deposit or exchange Rs 2,000 notes by September 30?
RBI issued a notice 3 months ago asking people to deposit Rs 2,000 notes as soon as possible. To clarify, Rs 2,000 notes will remain legal tender and will not become illegal after September 30. However, citizens will not be able to do any transactions with them.
PC: India TV Hindi
If you miss the deadline, as per some reports, you will have to visit the regional office of RBI and give a proper reason.
However, there is news that RBI may extend the deadline for depositing Rs 2,000 notes.
