Last Date To Exchange Rs 2,000 Note Today. Will Banknotes Be Valid After Deadline?

The Rs 2,000 currency note will remain legal tender even after the September 30 deadline, however, they will not be accepted for transactions.

The last day for returning or exchanging Rs 2,000 denomination banknote is today. According to the Reserve Bank of India (RBI), from October 1, the Rs 2,000 currency note will cease to have its value and will be just another piece of paper. This comes months after the central bank announced that the Rs 2,000 denomination banknotes would be taken out of circulation. Notably, the RBI started printing the Rs 2,000 note in November 2016 after Prime Minister Narendra Modi scrapped high-value Rs 1,000 and Rs 500 notes overnight.

According to RBI, the Rs 2,000 currency note will remain legal tender even after the September 30 deadline, however, they will not be accepted for transactions. After today, the notes can only be exchanged with the RBI. 

Therefore, today marks the final opportunity for people to exchange or deposit Rs 2,000 notes at their respective banks without any specific limit. A non-account holder could also exchange the banknotes up to a limit of Rs 20,000 at a time at any bank branch.