It is known that RBI announced on Friday that the Rs 2 thousand note will be withdrawn from circulation as part of the clean note policy. In this context, RBI has given people till September 30 to exchange their Rs 2 thousand notes. It has been announced that the Rs 2000 note will have legal validity even after the expiry of that period. It is stated that only large notes are removed from circulation. It explained that from 23rd of this month, you can exchange Rs 2 thousand notes in banks.
The people can deposit any number of Rs 2 thousand notes in the bank where they have their account. There is no limit on the number of notes. Those who want to exchange notes instead of making a deposit can go to any nearby bank branch and give Rs 2000 notes and get cash. However, RBI has imposed a limit to change this. It said that a person can exchange up to Rs 20,000 in one transaction, which means only ten big notes.
In places where there are no banks, you can contact the banking service providers and exchange the Rs 2 thousand note. However, RBI has restricted the institutions to allow exchange of only 2 notes in a day.