No need to rush to exchange Rs.2000 notes, Sept 30 deadline to ensure the exercise is taken seriously: RBI Guv
Shaktikanta Das, RBI Governor said, “The Reserve Bank of India expects most of the outstanding Rs.2000 denomination banknotes to come back to the banks by September 30, the last date for deposit/ exchange of such notes.”
While speaking to reporters on Monday, he said that most of the Rs.2000 notes will be back to the banks by September 30, 2023, and also urged the people not to rush to the banks to deposit/ exchange.
According to RBI, there is about 181 crore of Rs.2000 denomination currency notes out in circulation.
On May 19 the RBI said it will withdraw all the Rs.2000 banknotes as a part of its clean note policy and added that it will continue to be a legal tender.
According to the RBI, people may deposit Rs.2000 banknotes into their bank accounts and/ or exchange them for banknotes of other denominations at any bank branch from May 23 onwards till September 30.
Stating that the purpose of coming up with the Rs.2000 notes to replenish the void created by the demonetization of Rs.500/ Rs.1000 notes has been accomplished and now there is a sufficient number of currency notes in circulation.
Based on the need Rs.500 banknotes will be printed, he added.
According to him, even earlier many shops and others were reluctant to accept Rs.2000 notes.
He also said the security features of the Rs.2000 note have not been breached.
[With Inputs from IANS]
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