The Reserve Bank of India (RBI) informed that owing to operational considerations, the exchange of Rs 2,000 notes will not be available on January 12 at the RBI’s Mumbai Regional Office.
The facility will resume on Monday, January 15, 2024, which is the next working day, the RBI stated.
The last day to exchange Rs 2000 bank was October 07, 2023, after that individual can Rs 2000 banknotes entities at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.
Also read:Rs 2,000 notes: List of 19 RBI regional office, addresses where you can exchange Rs 2,000 notes now
Why Rs2000 denomination banknotes were withdrawn?
According to the RBI FAQs, “The Rs 2000 denomination banknote was introduced in November 2016 under Section 24(1) of Reserve Bank of India Act, 1934 (RBI Act) primarily with the objective of meeting the currency requirement of the economy in an expeditious manner after withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. With fulfilment of that objective and availability of banknotes in other denominations in adequate quantities, printing of Rs 2000 banknote was stopped in 2018-19. A majority of the Rs 2000 banknotes was issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.”
What will be the last date for exchange of Rs 2000 banknotes in RBI?
The facility for deposit / exchange of Rs 2000 banknotes at the 19 RBI Issue Offices shall be available until further advice.
Also read: What is the last date for exchange Rs 2000 banknotes in RBI?
Is it necessary to visit RBI in person for deposit / exchange of Rs 2000 banknotes?
Individuals / Entities from within the country can send Rs 2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India.
