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The existing notes in circulation could either be deposited in bank accounts or exchanged by September 30, the RBI said in a statement.
– Rs 2,000 currency notes to continue to be legal tender till September 30.
– Deposits of Rs 2,000 notes into bank accounts can be made without restrictions subject to compliance with extant Know Your – Customer (KYC) norms and other requirements
– Exchange of Rs 2,000 notes can be done via banking corespondents for up to Rs 4,000 per day for an account holder
– Unlike 2016 demonetisation, Rs 2,000 notes will continue to be a legal tender till September 30
– RBI had stopped printing of fresh Rs 2,000 notes since 2018-19
– The total value of these bank notes in circulation declined from Rs 6.73 trillion at its peak as on March 31, 2018 (37.3 per cent of notes in circulation) to Rs 3.62 trillion (10.8 per cent of notes in circulation) as on March 31, 2023.
(With inputs from PTI)
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