₹2000 banknotes exchange deposit will not be available on Monday April 01 2024 Says RBI

2000 Rupee Notes: Banking sector regulator Reserve Bank of India has announced that on April 1, 2024, the first day of the new financial year 2024-25, the facility of exchange or deposit of Rs 2000 notes will not be available in its regional offices. RBI issued a statement saying that on April 1, 2024, its 19 issue offices will be busy in Annual Closing of Accounts operations, due to which Rs 2000 notes will not be deposited or exchanged on that day. RBI said that Rs 2000 notes can be deposited or exchanged from April 2, 2024.

The Reserve Bank of India has issued a statement on March 28, 2024 regarding the exchange and deposit of Rs 2000 notes. In this announcement, RBI said that on Monday, April 1, 2024, the facility of exchange or deposit of Rs 2000 notes will not be available at the issue offices of the Reserve Bank of India. RBI said that RBI operations will be linked to the annual closing of accounts, due to which the facility of exchange or deposit of Rs 2000 notes will not be available on that day.

Exchange / Deposit facility of ₹2000 banknotes at RBI – Non-availability on Monday, April 01, 2024https://t.co/KrgvauGJl4

— ReserveBankOfIndia (@RBI) March 28, 2024

Earlier on March 1, 2024, the Reserve Bank of India had told that after the decision to withdraw Rs 2000 notes from circulation, till now a total of 97.62 percent of Rs 2000 notes have been returned to the Reserve Bank of India. In an unexpected announcement on May 19, 2023, RBI had announced to withdraw Rs 2000 notes from the country.

While withdrawing Rs 2000 notes from circulation, RBI had said that on May 19, 2023, Rs 3.56 lakh crore worth Rs 2000 notes were in circulation in the country. By February 29, 2024, this figure has come down to Rs 8470 crore, that is, out of the total notes of Rs 2000, 97.62 percent have returned to RBI. RBI has made it clear that Rs 2000 notes will remain legal tender. RBI has only taken these notes out of circulation.

RBI had given the facility to exchange Rs 2000 notes in banks till 30 September 2023, although even after this many people were left unable to return Rs 2000 notes. In view of this, RBI had extended the deadline for returning them till October 7 and after this, from October 09, 2023, Rs 2000 bank notes can be deposited or exchanged in the issue offices of RBI. Apart from this, people can credit the amount in their bank accounts by sending Rs 2000 notes from any post office in the country to any issue offices of RBI through India Post.

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