ANI
01 Oct 2023, 02:37 GMT+10
Mumbai (Maharashtra) [India], September 30 (ANI): The Reserve Bank of India (RBI) has announced an extension of the deadline for depositing or exchanging Rs 2,000 denomination banknotes till October 7, 2023.
The RBI had originally set September 30 as the deadline to facilitate the completion of the withdrawal process.
Last month, the RBI reported that approximately 93 per cent of Rs 2,000 banknotes had been returned to the banking system since May, when the central bank initially announced the withdrawal of the high-denomination note from circulation.
Individuals were instructed to exchange or deposit their Rs 2,000 notes at bank branches or regional branches of the RBI. Even non-account holders were permitted to exchange Rs 2,000 banknotes, up to a maximum of Rs 20,000 at a time, at any bank branch.
the RBI announced the decision to withdraw the Rs 2,000 denomination banknotes from circulation On May 19, though it maintained their status as legal tender. RBI had advised banks to cease issuing these banknotes with immediate effect.
Rs 2,000 banknote was introduced in November 2016, primarily to meet the rapid currency requirements of the economy following the demonetization of all Rs 500 and Rs 1,000 banknotes in circulation at the time.
Once banknotes in other denominations became readily available in sufficient quantities, the objective of introducing the Rs 2,000 banknote was achieved, the government said. (ANI)
Get a daily dose of Orlando Echo news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Orlando Echo.
More InformationLIVINGSTON, Kentucky: This week, railroad operator CSX said a train derailment involving 16 cars, two of which spilled molten sulfur ...
Fifty-seven journalists have been killed as of Saturday as a result of Israel's war on Gaza, which has extended to ...
TEL AVIV, Israel - Following Taoiseach Leo Varadkar's statement on Emily Hand's release, Israel's foreign minister says he summoned the ...
WASHINGTON D.C.: The White House says U.S. authorities have foiled a plot to kill a Sikh separatist in the U.S., ...
BANGKOK, Thailand: In response to heightened Chinese activity in the South China Sea, the United States and the Philippines have ...
BEIRUT, Nov. 25 (Xinhua) -- The United Nations Interim Force in Lebanon (UNIFIL) said in a statement on Saturday that ...
MARSHALL, Texas: In a lawsuit unsealed this week, Texas Attorney-General Ken Paxton said Pfizer and its supplier Tris Pharma provided ...
WASHINGTON D.C.: A Department of Health and Human Services (HHS) spokesperson said that this week, the U.S. government will begin ...
(Photo credit: Stephen R. Sylvanie-USA TODAY Sports) Riding high after one of their best wins of the season, the Arizona ...
(Photo credit: John E. Sokolowski-USA TODAY Sports) The Toronto Maple Leafs hope that their first home game in more than ...
(Photo credit: Sergei Belski-USA TODAY Sports) MacKenzie Weegar scored with 4.8 seconds remaining in overtime to give host Calgary a ...
(Photo credit: Ron Chenoy-USA TODAY Sports) Ryan Johansen scored two goals, Cale Makar had a goal and an assist and ...