RBI Temporarily Suspends Rs 2000 Banknote Exchange Facility for One Day on April 1

The RBI has announced that the facility for exchange and deposit of Rs 2000 banknotes will not be available on April 1 at the central bank’s 19 offices due to annual closing of accounts. The facility will resume on April 2.

Since May 19, 2023, the facility for the exchange of the Rs 2000 banknotes has been available at the 19 issue offices of the RBI. From October 09, 2023, RBI Issue offices also began accepting Rs 2000 banknotes from individuals and entities to deposit them into their bank accounts.

As of March 1, 2024, 97.62 per cent of the Rs 2,000 banknotes that were in circulation on May 19, 2023, have been returned to the banking system. The RBI has confirmed that Rs 2000 banknotes continue to be legal tender.