2000 Rupee Update: RBI had said that 2000 rupee notes will remain legal tender. But it is not clear whether these notes will be accepted after September 30 or not.
Benefits of nomination
SEBI has taken this step with the objective of protecting the assets of investors. So that the property can be handed over to the legal heirs of the investors. According to experts, many such demat accounts were opened without a nominee, leading to problems in transferring assets to heirs. But it will be very easy to do this through nomination.
If you have 2000 Rupee Notes and you have not yet exchanged these notes or deposited them in your bank account, then you have only 4 days left. If you do not exchange or deposit Rs 2000 notes by 30 September 2023, your problems may increase. Still, Rs 2000 notes worth Rs 24,000 crore which are lying with the common people are yet to be returned to the banking system.
The Reserve Bank of India had announced the withdrawal of Rs 2000 notes on 19 May 2023. According to RBI, till March 31, 2023, Rs 3.62 lakh crore worth Rs 2000 notes were in circulation, which came down to Rs 3.56 lakh crore on May 19, 2023.
Last time, on September 1, 2023, when RBI had released the data regarding return of notes, according to Rs 3.32 lakh crore, Rs 2000 notes had returned to the banking system. That means 93 percent of the total notes in circulation have returned to the banking system. Despite this, 7 percent i.e. Rs 24,000 crore of Rs 2000 notes are yet to be returned.
At the time of announcing the withdrawal of Rs 2000 notes, RBI had said that even after September 30, 2023, Rs 2000 notes will remain legal tender. But RBI has not said whether banks will accept Rs 2,000 notes for exchange or deposit after September 30. RBI has been repeatedly appealing to the common people to exchange or deposit Rs 2000 notes by September 30, 2023.
That means, it is clear that Rs 2000 notes worth Rs 24,000 crore are yet to be deposited. If these notes are not returned to the banks by 30th September, then the problems of those who have these notes may increase after 30th September.
