Rs 2,000 banknote deposit, exchange facility not available in RBI’s Mumbai Regional Office on Jan 12

The Reserve Bank of India (RBI) stated in a notification that the facility of deposit or exchange of Rs 2,000 banknotes at the Mumbai Regional Office will not be available on January 12 (Friday). The apex bank stated that this temporary pause in the facility is due to operational reasons.

“The facility will resume on Monday, January 15, 2024, which is the next working day,” stated the apex bank.

Meanwhile, the RBI said last week that Rs 2,000 banknotes continue to be legal tender and that 97.38 per cent of the withdrawn notes have returned to the system.

The RBI had announced the withdrawal of Rs 2,000 banknotes on May 19 last year from circulation. The apex bank had asked the public to deposit or exchange Rs 2,000 notes at the 19 RBI offices in the country. The 19 RBI offices depositing or exchanging the bank notes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

The total value of Rs 2,000 notes that was calculated to be Rs 3.56 lakh crore on May 19 when the withdrawal was announced, decreased to Rs 9,330 crore on December 29, 2023.

RBI Issue Offices also started accepting Rs 2,000 banknotes for deposit into bank accounts from October 9, 2023. RBI also allowed members of the public to send Rs 2,000 banknotes through India Post from any post office in the country to any RBI Issue Offices to be credited into their accounts.

The Rs 2,000 banknotes were introduced in November 2016, following the demonetisation of Rs 1,000 and Rs 500 banknotes.

Also read: Rs 2,000 banknotes continue to be legal tender, 97.38% notes returned, says RBI