According to sources, the exchange facility for Rs 2000 notes will be exclusively available at bank branches and cannot be conducted through post offices. Customers can deposit their Rs 2000 notes since they are still considered legal tender, but the exchange can only be done at banks.
The Reserve Bank of India (RBI) recently announced the decision to withdraw the Rs 2000 denomination currency notes from circulation, while confirming that they will continue to hold their legal tender status. As per the RBI’s directive, banks are advised to cease the issuance of Rs 2000 denomination banknotes immediately.
The RBI has clarified that citizens can still deposit their Rs 2000 banknotes into their bank accounts or exchange them for banknotes of other denominations at any bank branch until September 30, 2023. However, the exchange of Rs 2000 banknotes into other denominations is subject to a limit of Rs 20,000 at a time, and this facility can be availed at any bank starting from 23 May, 2023.