What to do if Still hold Rs 2000 note: According to the latest report of RBI, about 7% of Rs 2000 notes are still in circulation in the market. The deadline to deposit or exchange these notes in banks has been given till 30th September, after which they will no longer be legal tender for transactions.
New Delhi: India’s highest value bank note i.e. Rs 2000 note will be out of circulation after 4 days. Therefore, if you still have this note, then immediately deposit it in the bank or get it exchanged and get notes of other denomination. According to the report, Rs 2000 notes worth about Rs 24,000 crore are still in circulation in the market. This means that about 7% of the notes are still in circulation.
The Reserve Bank of India had decided to withdraw the Rs 2,000 note from circulation on May 19, 2023, after which people were given time till September 30 to exchange this note or deposit it in banks. According to the report, till September 1, more than 93% i.e. a major part of about Rs 3.56 trillion has been deposited in the bank. Till September 1, 7% notes are left in circulation.
The pink-coloured Rs 2,000 note was introduced in November 2016 to re-monetise the economy following Prime Minister Narendra Modi’s shock decision to remove Rs 1,000 and Rs 500 notes as legal tender overnight as part of an anti-corruption drive. it was done. It soon became the preferred store of value and the preferred note for large cash deals.
On the occasion of withdrawal of Rs 2000 notes from circulation, RBI had said that these notes have served their purpose and are not in common use. RBI also cited its “clean note policy” to replace soiled notes within four to five years. The decision to demonetise Rs 2000 note gave a boost to small consumption for the economy. Whereas, an increase was recorded in digital payments.
Will Rs 2000 note become junk after September 30?
According to RBI, the notes will remain legal tender even after September 30, but they will not be accepted for transaction purposes and can be exchanged only with the RBI. The holder will have to explain why he did not deposit the note in the bank or get it exchanged before the normal time limit was reached.
