From today (May 23), 2000 rupee notes can be exchanged and deposited in banks. Following the instructions of the Reserve Bank, the banks have completed all the preparations. The RBI on Friday made a surprise announcement of withdrawing Rs 2,000 notes but gave time till September 30 to the public to either deposit the Rs 2,000 notes in bank accounts or exchange them with banks. The RBI said it has asked banks to stop issuing Rs 2,000 notes with immediate effect.
Unlike when demonetisation happened in 2016, people have heaved a sigh of relief that long queues are not expected to be seen outside banks as RBI has given people four months to exchange Rs 2000 notes.
Are 2000 rupee notes legal?
RBI has clearly stated in its order that only Rs 2000 note is being taken out of circulation. The note is completely valid. You can use these notes for purchases and transactions.
What is the rule of changing 2000 rupee note?
Those who have 2000 rupee note can go to the bank and get it changed. You can change up to Rs 20,000 i.e. 10 notes of Rs 2000 in any bank from today i.e. 23rd May.
How much can be deposited in the bank account?
If you deposit 2000 rupee note in your bank account then there is no limit to it. You can deposit as much as you want in your bank account. Under the Banking Deposit Rules, you will have to show your PAN-Aadhaar card on deposits above Rs 50,000.