RBI Implements Temporary Moratorium on Rs 2000 Notes Exchange: April 1, 2024

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Shaktikanta Das, RBI Governor
Shaktikanta Das, RBI Governor

INVC NEWS
New Delhi : The Reserve Bank of India (RBI) has announced that from Monday, April 1, exchange or deposit of Rs 2,000 bank notes will not be available in its 19 issue offices across the country. This is due to activities related to annual closing of accounts. This moratorium is only for April 1, 2024. From April 2, 2024, you will be able to exchange and deposit Rs 2000 notes as before. RBI gave a statement, the facility to exchange or deposit Rs 2000 notes will not be available on April 1, 2024.

This restriction is being imposed due to the work related to annual closing of accounts. RBI had announced the withdrawal of Rs 2,000 notes on May 19, 2023. By February 29, 2024, about 97.62 per cent of the notes were returned to the banking system. 2.38 per cent of Rs 2,000 notes (about Rs 8,470 crore) are still with the public. The last date for exchanging or depositing Rs 2000 notes was October 7, 2023.

If you still have Rs 2000 notes, you can deposit them at RBI offices located across the country or send Rs 2000 notes through Indian Post to RBI offices. The notes will be credited to your bank account. You can exchange or deposit Rs 2000 notes by visiting your bank.

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