According to sources, the Reserve Bank of India (RBI) has announced that the exchange facility for Rs 2000 notes will only be available at bank branches and not through post offices.
The decision to withdraw the high-value currency from circulation was made last week, but the Rs 2000 notes will remain legal tender. Customers can deposit these notes into their bank accounts or exchange them for other denominations until September 30, 2023. The exchange limit is set at Rs 20,000 at a time starting from May 23, 2023. The RBI Governor, Shaktikanta Das, emphasized the September 30 deadline to ensure a focused and timely process.
The printing of Rs 2000 banknotes was stopped in 2018-19 as the objective of introducing them was fulfilled. The State Bank of India has communicated that no ID cards or requisition forms are required for exchanging Rs 2000 currency notes, and customers can exchange a maximum of ten notes at a time.