How to exchange Rs 2000 in nearby banks?

RBI announced that it will withdraw Rs 2000 note. It is India's highest denomination currency and was introduced in 2016 after demonetization.

Hyderabad: The Reserve Bank of India(RBI) announced that it will withdraw Rs 2000 note. It is note is India’s highest denomination currency and was introduced in 2016 after demonetization. The RBI said that people can exchange or deposit these Rs 2000 notes by September 30, 2023.

Deposit of Rs 2000 banknotes into accounts maintained with all banks can be made in the usual manner, that is, without restrictions and subject to compliance with extant Know Your Customer (KYC) norms and other applicable Statutory requirements. The banks shall also be required to comply with Cash Transaction Reporting (CTR) and Suspicious Transaction Reporting (STR) requirements, where applicable.

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The facility for the exchange of Rs 2000 banknotes shall be provided to all members of the public by all banks through their branches. With a view to minimise inconvenience to the public, to ensure operational convenience, and avoid disruption of the regular activities of bank branches, all banks may exchange Rs 2000 banknotes up to a limit of Rs 20,000/- at a time.

Business Correspondents (BCs) may also be allowed to exchange Rs 2000 banknotes up to a limit of Rs 4000/- per day for an account holder. For this purpose, banks may, at their discretion, enhance the cash holding limits of BCs.

How to exchange Rs 2000 note in a bank

Step 1: Reach the nearby bank

Step 2: Fill the bank details in the “Request Slip”

Step 3: Submit the form and the amount will be credited to your account