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₹2000 Denomination Banknotes – Withdrawal from Circulation – Will continue as Legal Tender

11. What if someone needs more than ₹20,000/- cash for business or other purposes? +

Deposit into accounts can be made without restrictions. The ₹2000 banknotes can be deposited into bank accounts and cash requirements can be drawn thereafter, against these deposits.

12. Is there any fee to be paid for the exchange facility? +

No. The exchange facility shall be provided free of cost.

13. Will there be special arrangements for senior citizens, persons with disabilities, etc., for deposit and / or exchange?

Banks have been instructed to make arrangements to reduce inconvenience to the senior citizens, persons with disabilities, etc., seeking to exchange/deposit ₹2000 banknotes.

14. What will happen if one cannot deposit / exchange ₹2000 banknote immediately? +

To make the entire process smooth and convenient for the public, a period of over four months has been given for deposit and/or exchange of ₹2000 banknotes. Members of the public, are therefore, encouraged to avail this facility at their convenience within the allotted time.

15. What will happen if a bank refuses to accept deposit / exchange of ₹2000 banknotes?

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 of 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 (cms.rbi.org.in).

16. What is the provision for deposit / exchange of ₹2000 banknotes after September 30, 2023?

The current facility for deposit / exchange of ₹2000 banknotes at bank branches has been extended by RBI till October 07, 2023.

17. What will happen if one cannot deposit / exchange ₹2000 banknotes by October 07, 2023?

The ₹2000 banknotes can continue to be exchanged by individuals / entities at the 19 RBI Issue Offices up to a limit of ₹20,000 at a time. Individuals / Entities can also tender ₹2000 banknotes at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount.

18. Is it necessary to visit RBI in person for deposit / exchange of ₹2000 banknotes?

Individuals / Entities from within the country can send ₹2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India.

Such credit shall be subject to relevant RBI / Government regulations, submission of valid identity documents and due diligence as deemed fit by RBI.

19. What will be the last date for exchange of ₹2000 banknotes in RBI?

The facility for deposit / exchange of ₹2000 banknotes at the 19 RBI Issue Offices shall be available until further advice.

¹ Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram