How to deposit or exchange Rs 2000 currency notes
How to exchange or deposit Rs 2000 notes: From May 23 onwards, you can go to any bank and exchange 10 notes of Rs 2000 notes at a time with currency notes of other denominations.
Currency notes of Rs 2000 denomination will slowly disappear as RBI has decided to withdraw them from circulation. People who have Rs 2000 notes with them will get an opportunity to exchange the notes in any bank or deposit them in their own accounts from May 23, 2023, onwards. The facility will be available till September 30, 2023.
This article looks at how can you deposit or exchange Rs 2000 notes till September 30.
How to exchange or deposit Rs 2000 notes?
From May 23 onwards, you can go to any bank and exchange 10 notes of Rs 2000 notes at a time with currency notes of other denominations. The facility will be available till September 30.
You can also exchange the Rs 2000 notes at the 19 Regional Offices (ROs) of RBI having Issue Departments from May 23, 2023.
Further, you can exchange Rs 2000 notes through Business Correspondents (BCs), up to a limit of Rs 4000 per day for an account holder.
For depositing Rs 2000 notes, you can go to your bank and deposit the money in your own account. There is no deposit limit but general KYC and other existing statutory norms for cash deposit will apply.
“Deposit into bank accounts can be made without restrictions subject to compliance with extant Know Your Customer (KYC) norms and other applicable statutory/regulatory requirements,” the RBI said.
When depositing Rs 2000 notes in a Jan Dhan account or Basic Savings Bank Deposit (BSBD) Account, the usual limits will apply, as per RBI.
Is there any fee for Rs 2000 exchange?
As per RBI, the exchange facility will be provided free of cost.
What to do if a bank refuses to accept/exchange Rs 2000 notes?
RBI said, “For redress of grievance in case of deficiency of service, the complainant / aggrieved customer may first approach the concerned bank. If the bank does not respond within a period of 30 days after lodging the complaint or if the complainant is not satisfied with the response/resolution given by the bank, the complainant can lodge the complaint under the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021 at the Complaint Management System portal of RBI.”
