The deadline for exchanging Rs 2000 currency notes has been extended until October 7th.

 

The Reserve Bank of India has extended the deadline for exchanging Rs 2000 notes until October 7. The RBI stated in a statement published on the basis of the review that the withdrawal time has expired and that it has decided to continue the current arrangement for depositing or exchanging Rs 2,000 notes till October 7, 2023. 

According to bank data, Rs 3.42 lakh crore of the Rs 3.56 lakh crore Rs 2,000 notes in circulation until May 19, 2023, were returned, leaving only Rs 0.14 lakh crore. The return rate for Rs 2000 notes was 96%. The RBI announced the removal of the biggest denomination currency note of Rs 2,000 on May 19. The notes will remain legal tender, according to the RBI.