RBI Will Not Settle for Or Trade Rs 2,000 Notes On April 1: This is Why

The power will resume from April 2, the RBI mentioned.The Reserve Financial institution of India (RBI) has introduced that it’s going to not be exchanging or accepting Rs 2,000 notes on April 1 as a result of annual closing of accounts. The service will resume on April 2, India’s central financial institution introduced. “The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024, at the 19 Issue Offices of the Reserve Bank of India due to operations associated with the Annual Closing of Accounts. The facility will resume on Tuesday, April 2, 2024,” the RBI mentioned in a press release. As of February 29, the RBI mentioned that roughly 97.62% of the Rs 2,000 forex notes have been returned to the banking system. On Could 19, 2023, the RBI introduced that the Rs 2,000 financial institution notes had been to be discontinued from circulation, and urged the general public to deposit them in banks or trade them for banknotes of different denominations. This was a part of the financial institution’s clear word coverage.Nevertheless, the RBI has continued to supply the power of depositing or exchanging Rs 2000 notes at its 19 places of work throughout the nation, in key places equivalent to Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram, Ranchi, and Raipur. 

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