The Reserve Bank of India (RBI) has extended the deadline for the exchange of denomination notes till October 7.
Earlier, RBI had said that September 30 (Saturday) would be the last day. Now exchange of notes has been allowed for a period of one week.
Banks will stop accepting Rs 2,000 notes after October 8. However, people will be allowed to exchange Rs 2,000 notes at 19 RBI branches even after that, RBI said.
Also, 2000 Rs notes can be sent by Indian Post to RBI’s ‘Issue Officers’ through post. RBI said these notes will remain valid even after the last day of exchange.
According to the circular issued on May 19, RBI had Rs 3.56 lakh crore in circulation. 3.42 lakh crores have been recovered. From this till September 29 only Rs 0.14 lakh crore is pending.