Desh Ki Baat

Safe & Swift: Exchange Rs 2,000 Notes

RBI offers a hassle-free exchange of 2,000 notes, encouraging secure postal submission for a smooth process.

Exchange 2000 Notes conveniently via insured post for direct bank credit

Exchanging Rs 2,000 notes is now more accessible through insured postal services, with the RBI directly crediting bank accounts. This option greatly benefits individuals unable to visit regional offices. Additionally, a Triple Lock Receptacle (TLR) form is available for depositing these notes into accounts, simplifying the process.

“We encourage customers to use the insured post service to send their Rs 2,000 notes to the RBI for a smooth and secure deposit into their accounts. This way, they can avoid the hassle of travelling to specific branches and waiting in long lines,” said RBI Regional Director Rohit P Das.

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Secure TLR and Postal Options

He also stressed that both the Triple Lock Receptacle (TLR) and insured post options are very safe, and there’s no need for the public to worry about using them. The Delhi office has already received around 700 TLR forms. The RBI has consistently highlighted these two choices, along with the exchange service at its offices.

On May 19, the RBI announced that it would be phasing out the Rs 2,000 banknotes. Since then, over 97 per cent of the Rs 2,000 banknotes that were in circulation as of May 19, 2023, have been returned.

The Delhi regional office has made special arrangements to assist senior citizens and people with disabilities by providing a separate queue. They’ve also set up a separate line for those with just a few Rs 2,000 notes to speed up the process. To make things more convenient, they’ve created a covered waiting area and provided drinking water.

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Rs 2,000 Notes Remain Legal

The RBI wants to make it clear that Rs 2,000 notes are still considered legal currency. At first, the public and businesses were encouraged to either exchange or deposit their Rs 2,000 banknotes into their bank accounts by September 30. The deadline was later extended to October 7. However, after October 7, the exchange and deposit services at bank branches were discontinued.

Starting from October 8, individuals have the option to either exchange the currency or have the equivalent amount credited to their bank accounts at 19 RBI offices in various cities. These Rs 2,000 banknotes were introduced in November 2016 following the demonetization of the Rs 1,000 and Rs 500 banknotes that were previously in circulation.

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Muskan Jha

I am creative person with simple mind possibilities that may be useful in solving problems.
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