The deadline to exchange Rs 2,000 notes has been extended
The last date to exchange Rs 2,000 notes at banks has been extended till October 7, the Reserve Bank of India (RBI) said in a statement today. The RBI said the Rs 2,000 note will remain valid even after the deadline to exchange ends. The previous deadline was today.
Banks will stop accepting Rs 2,000 notes for exchange from Obtober 8. However, people can till exchange Rs 2,000 notes at 19 offices of the RBI. The notes can also be sent by post to the RBI's "issue offices" by India Post.
The RBI said it has received Rs 3.42 lakh crore worth of Rs 2,000 notes from a total of Rs 3.56 lakh crore in circulation as on May 19. This has left only Rs 0.14 lakh crore worth of Rs 2,000 notes in circulation till September 29.
The data shows 96 per cent of the Rs 2,000 banknotes in circulation as on May 19 has since been returned.