While the Rs 2000 banknotes continue to be legal tender, the facility for the exchange of these notes is only available at the 19 RBI Issue Offices
People can send their Rs 2,000 banknotes to specified regional offices of the Reserve Bank through the insured post for credit in their bank accounts. This is a hassle-free option for the people who are away from the regional offices of the Reserve Bank. Besides, the RBI is offering TLR (Triple Lock Receptacle) form to people for a deposit of Rs 2,000 banknotes in their bank account. "We encourage customers to send Rs 2,000 notes through the insured post to the RBI for direct credit in their account in the most seamless and secure manner. This (will) save them from the hassle of travelling to specified branches and standing in queue," RBI Regional Director Rohit P Das said. Both the options of TLR and insured post are highly secured, and there should not be any fear in the mind of the public relating to these options, he said, adding that about 700 TLR forms have been received so far by the Delhi office alone. The RBI, in its communications, has been reiterating these two options,
In its withdrawal notice, the RBI said the notes had served their purpose and were not commonly in use. It also cited its "clean note policy" to replace soiled notes within four to five years
Is it necessary to be a bank account to exchange the notes; do I need to submit my PAN?
In which we munch over the week's platter of news and views
Former Reserve Bank Deputy Governor R Gandhi on Friday said withdrawal of the Rs 2,000 bank notes will help in curbing black money to a "great extent" because people are hoarding the high value currency. Gandhi, who was leading the currency department during the demonetisation of 2016, told PTI that any systemic impact on payments is unlikely because the notes are not used in day-to-day payments, which mostly go through in a digital manner. However, the Rs 20,000 limit on a single exchange transaction -- where those having the Rs 2,000 notes can go to a bank branch for exchanging the currency with bills of other denominations - may lead to "operational inconvenience" as some people may have to do multiple visits to a bank branch. When asked about the impact of the Rs 2,000 notes withdrawal on the agenda of curbing black money, Gandhi said it will help to a "great extent", and reminded that one of the intentions of demonetisation was also to curb black money in the economy. The Rese
Rs 2,000 notes with public can be deposited in bank accounts or exchanged at banks and RBI's 19 Regional Offices
There will also be a latent image with the denominational numeral 2,000, which can be seen when the bank note is held at a 45 degree angle at the eye level.