The Reserve Bank of India (RBI) has provided a significant relief by extending the deadline for exchanging Rs 2000 notes. Individuals who have not yet exchanged their Rs 2000 notes will have the opportunity to do so until October 7, 2023. This extension grants people an additional week to complete the exchange process. The previous deadline was set to end on September 30.

After October 7, 2023, regular citizens will no longer be able to exchange Rs 2000 notes at banks and post offices. However, these notes will continue to be legal tender, and individuals can only exchange them at RBI offices, of which there are 19 located throughout the country. The exchange limit at these offices is notes of value up to Rs 20,000 at a time, and you’ll need to provide an ID proof for the exchange.

It’s important to note that even after the exchange deadline, Rs 2000 notes will remain legal currency. The RBI had announced the withdrawal of Rs 2000 notes on May 19, 2023. According to RBI data, as of September 29, 2023, Rs 3.42 lakh crore worth of Rs 2000 notes have been returned to the banking system, with Rs 14,000 crore still outstanding.

For added convenience, the RBI has also allowed individuals to send Rs 2000 notes through the postal service to the 19 RBI issue offices, after which the money will be deposited into the sender’s account. Providing an ID proof is mandatory for this process.