The government has cleared its position on extending the deadline for depositing Rs 2000 notes. On May 19, the Reserve Bank had announced to bring back 2000 rupees. The last date to submit it is 30 September.
The Reserve Bank of India (RBI) has set a deadline of 30 September 2023 to replace 2000 rupee notes. If you still have 2000 rupee notes, then deposit it in banks before the deadline. Because the government is not going to extend the deadline for depositing Rs 2000 notes. Some members in Parliament asked the government whether the deadline for depositing Rs 2000 notes would be extended? The Finance Ministry replied on this. Let us tell you that on May 19, the Reserve Bank had announced to bring back 2000 rupees.
Will the deadline move?
Clearing the situation on extending the deadline, the Finance Ministry said that the last date for depositing Rs 2000 notes will not be extended further. That is, those who still have 2000 rupee notes will have to deposit them before 30 September. Several MPs including Supriya Sule had asked about this in the monsoon session of Parliament. Answering the questions of MPs, Minister of State for Finance Pankaj Chaudhary made it clear that no change will be made in the deadline.
He said that at present the government is not considering anything like this. The Minister of State for Finance said that the stock of other currency is available to exchange the Rs 2000 notes which are being deposited back in the bank.
The government had taken the decision in May
The Reserve Bank of India took a big decision on the biggest currency note of 2000 rupees in May. However, the Reserve Bank had said that Rs 2,000 notes would remain valid till September 30. The Reserve Bank of India had decided to discontinue the Rs 2000 note under the ‘Clean Note Policy’. Under this policy, RBI is gradually withdrawing 2000 notes from the market.
These notes were issued by the Reserve Bank in 2016.
In fact, on 8 November 2016, Prime Minister Narendra Modi had announced demonetisation in the country. Then 500 and 1000 notes were taken out of circulation. This decision of the government caused a lot of upheaval in the country, but then the new notes became a part of the currency market.
The government had launched 200, 500 and 2 thousand notes. But now out of these 2 thousand note was launched. After demonetisation in November 2016, there was a lot of chaos in the country for the next several months. People had to stand in long queues in banks to deposit old notes and get new notes.
