RBI withdraw 2000 rs note from circulation but you can exchange or deposit in bank kyc is must detail here – Business News India

read on the appThe Reserve Bank of India on Friday announced the withdrawal of Rs 2,000 notes from circulation. Now banks will not issue 2000 rupee notes. With this, customers have

been given the opportunity to exchange or deposit the notes from May 23 to September 30, 2023. If you are going to deposit or exchange 2000 rupee notes in the bank, then keep some

things in mind. KYC is necessary: 2000 rupee note can be deposited in bank accounts without any hindrance. However, this is subject to meeting KYC norms. If you have not done KYC

of the bank account then you may face problems. 10 notes at once: From May 23, you can exchange Rs 2,000 notes up to a maximum value of Rs 20,000 in a day. This means that you can

exchange only 10 notes of 2000 rupees at a time. However, no guidelines have been issued regarding submission. Through Bank Representative: Bank account holders can exchange Rs

2,000 notes up to Rs 4,000 through bank representatives. Free service: If you go to the bank to exchange 2000 rupee notes, then you will not need to pay any kind of charge. This

facility is free of cost. Explain that in November 2016, after removing the old 500 and 1,000 rupee notes from circulation, a two thousand rupee note was issued. The RBI had

stopped printing Rs 2,000 notes from the financial year 2018-19. About 89 per cent of the Rs 2,000 notes were issued before March 2017. In March 2018, the share of Rs 2,000 notes

in the total notes in circulation was 37.3 per cent, which has come down to 10.8 per cent as on March 31, 2023. In terms of value, Rs 2,000 notes were worth Rs 6.73 lakh crore in

March 2018, while the value stood at Rs 3.62 lakh crore on March 31, 2023.