Withdrawal of Rs 2,000 Banknotes: In a significant move, the Reserve Bank on Friday announced the withdrawal of Rs 2,000 currency notes from circulation and said this is being done under its ‘Clean Note Policy’. However, the central bank gave the public time till September 30 to either deposit such notes in accounts or exchange them at banks.
Unlike the November 2016 demonetisation when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender till September 30. In a statement, the Reserve Bank of India (RBI) said it has asked banks to stop issuing Rs 2,000 notes with immediate effect.
The move from the RBI comes amid concerns about the highest denomination notes being used to hoard black money. The RBI had stopped printing Rs 2,000 notes in 2018-19 and the notes were rarely in circulation.
Where To Exchange Rs 2,000 Banknotes?
The general customers can exchange or deposit Rs 2,000 notes in their respective bank branches till September 30. The RBI said the facility will be available for all in all 19 regional offices of the RBI and other banks starting from May 23.
What Is The Limit For Exchange Of Rs 2000 Notes?
For operational convenience and to reduce the disruption of regular activities of bank branches, the RBI said there is a limit of Rs 20,000 on the amount of Rs 2,000 notes that can be exchanged.
Can Rs 2000 Notes Be Accepted In Regular Transactions?
The RBI said that Rs 2,000 notes will continue to be in use for transactions and other payments.
Are Bank Customers Only Allowed To Exchange The Notes?
No, general people without any bank can also avail the exchange facility of Rs 2000 banknotes at any bank branch.
Fee Applicable To Avail Exchange Facility?
No, general people can exchange Rs 2,000 notes for a lower denomination at no extra charges.
In Case Bank Refuses To Exchange Rs 2000 Notes?
In case a bank refuses to exchange Rs 2000 notes, the customers can first reach out to the bank concerned and raise a complaint. If still the banks fails to respond after a month or if the aggrieved customer is unsatisfied with the solution, a fresh complaint can be filed under the Reserve Bank – Integrated Ombudsman Scheme, 2021 in the complaint management system portal of RBI (cms.rbi.org.in).
from Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/gdyaM9s
No comments:
Post a Comment