The Reserve Bank of India (RBI) has said that ₹2,000 notes can be exchanged through post offices as well. In a set of Frequently Asked Questions (FAQs) on its website, the RBI said people can send the notes to any of its 19 issue offices from any post office.
In May last year, the apex bank announced its decision to withdraw ₹2,000 notes, which was first introduced after the demonetisation exercise in 2016.
Initially, the facility for deposit and/or exchange of the
₹2,000 banknotes was accessible at all bank branches nationwide until September 30, 2023. This deadline was extended to October 7, 2023.
Notably, the exchange facility is available at the 19 issue offices of the RBI from May 19, 2023.
How to exchange ₹2,000 notes?
Public can send
₹2,000 banknotes along with duly filled application from any post office in the country to any of the 19 RBI issue offices, for credit to their bank accounts in India.
The form is available on the RBI website homepage under the link ‘Forms-Others’.
Documents required
A copy of any officially valid document (OVD) such as Aadhaar Card, Driving License/Voters ID Card/Passport/NREGA Card/PAN Card/Identity card issued by government department, public sector unit to its staff should be enclosed with the application form along with a copy of bank account statement (portion with account details) or first page (with account details) of passbook.
The status of ₹2,000 notes
The central bank introduced ₹2,000 banknotes in November 2016 to address the economy's currency needs following the withdrawal of legal tender status for all ₹500 and ₹1,000 banknotes in circulation at that period.
As other denominations became sufficiently available, fulfilling the objective of introducing ₹2,000 banknotes, the printing of these notes ceased in the financial year 2018-19.
Consequently, the decision to withdraw the ₹2,000 notes was taken.
Indians have returned 97.38% of ₹2,000 banknotes in circulation as of now.
It's important to note that despite the withdrawal announcement, ₹2,000 banknotes continue to be legal tender.
