What will Happen if You Don’t Exchange Your Rs 2000 Notes Before 30 September 2023?

It has been more than 3 months now since the RBI announced the discontinuation of the ₹2000 notes from 30 September 2023. The bank announced that it is withdrawing the ₹2000 notes from circulation. 

This move has been named as Demonization 2.0 and Demonization mini even though the government hasn’t demonetised these notes, they have just stopped their circulation from September 30. 

Shaktikanta Das earlier in an interview explained that ₹2000 notes were taken out to fulfill the void and loss of ₹500 and ₹1000 notes. However now the loss and demand has been fulfilled and the printing of such notes has also been stopped. That’s why these notes are now being asked to be deposited back to the banks. 

As per the government announcement, the authorities have set 30 September 2023 as the final date for people to deposit or exchange their ₹2000 notes. 

What will happen if you don’t deposit your note before 30 September? 

A lot of people are wondering what will happen after 30 September 2023? Will these notes still be legal? Can we still use these notes as a mode of transaction? 

RBI has clarified this earlier, that the ₹2000 notes will remain legal tender even after September 30. MyGovIndia also took to their official X handle and addressed this issue while clarifying it. 

The government also clarified that no matter if you have an account in a particular bank Or not, you can get your currency exchanged in any bank you want upto a limit of ₹20,000 at a time. 

All we know is that these notes still have a legal tender to them and are not Demonetised just like ₹500 and ₹1000 notes. An official notification from the government is still awaited on whether they can be used for transactions or not.

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