The RBI said on Thursday that due to activities related to the annual close of accounts, the capability for exchanging and depositing Rs. 2000 banknotes will not be accessible at the central bank’s 19 offices on April 1. The RBI stated that the facility will reopen for business on April 2.
Beginning on May 19, 2023, the RBI’s 19 issuing offices offer the ability to swap Rs. 2000 banknotes. The RBI Issue offices started taking deposits of Rs 2000 banknotes into bank accounts from individuals and companies on October 09, 2023.
Of the Rs 2,000 bank notes that were in circulation on May 19, 2023, 97.62 percent had been returned to the banking system as of March 1, 2024. According to the RBI, banknotes of Rs. 2000 are still accepted as legal money.