Is the 2,000 rupee note still valid after September 30? Here’s what we know: According to the RBI, all banks will be able to offer deposit and/or exchange facilities for Rs 2000 banknotes until September 30, 2023, in order to complete the exercise in a time-bound manner and give the public enough time.
On Friday, the Reserve Bank of India announced that it had made the decision to stop issuing banknotes in the Rs 2,000 denomination. However, the central bank stated in a statement that the notes will continue to function as legal tender.
In addition, the RBI stated that any bank branch can accept deposits of Rs 2,000 banknotes or exchange them for banknotes of a different denomination.
The bank stated in a statement that “deposits into bank accounts can be made in the usual manner, that is, without restrictions and subject to existing instructions and other applicable statutory provisions.”
According to the RBI, all banks will be able to offer deposit and/or exchange facilities for Rs 2,000 banknotes until September 30, 2023, in order to finish the exercise on time and give the public enough time. According to the RBI, individuals are encouraged to deposit and/or exchange these banknotes by September 30, 2023. The RBI hasn’t said yet whether the Rs. 2,000 note will still be valid after September 30. Yet, given the cutoff time for the general population to return the notes is September 30, the inquiry emerges assuming the note will be substantial after that date or not.