RBI through the Circular DCM(Plg) No.S-236/10.27.00/2023-24 dated 19th, May 2023 has initiated a withdrawal of Rs. 2000 notes from circulation.
The exchange facility was provided through the bank branches and the regional offices. Initially the last date for exchange through the bank branches was 30th September (30-09-2023) and which was extended upto 07th October 2023 (07-09-2023).
But if you have missed the timeline or just found out some Rs. 2000 Notes do not panic as there is an option for exchange of the same through the following process.
Where Can you Exchange Rs. 2000 Notes?
As said earlier, the exchange of bank notes through the Bank Branches are ended on 07th October 2023. But the RBI Circular DCM(Plg) No. S-1288/10.27.00/2023-24 Dated 30th, September 2023 gave provisions for exchange of Rs. 2000 notes through its regional offices.
Thus, you can Exchange the Rs. 2000 Denomination Notes through 19 Regional Offices (ROs) of RBI having Issue Departments (RBI Issue Offices).
The Exchange facility will be available in the RBI regional offices till the further advice from the RBI on the matter.
How to Exchange Rs. 2000 Notes?
As per RBI Rs. 2000 notes shall continue to be a legal tender. Thus, you can exchange it through 19 Regional Offices RBI by adhering to the following conditions.
- The Bank notes can be only exchanged through Regional offices of RBI.
- Individual/ Entity can exchange maximum of 10 Notes / Rs. 2000 at a time.
- Exchange or Credit to the account will be done after verifying the Identity of the person. And if necessary, after proper due diligence of the party exchanging the notes.
- As there is no timeline provided, RBI can deny such service at any time at its discretion. Hence it is advisable to exchange the notes as early as possible.
Process for Exchange of Rs. 2000 Notes
You can exchange the Rs. 2000 Notes through the 19 Regional Offices (ROs) of RBI having Issue Departments (RBI Issue Offices).
- You can exchange up to Rs. 20,000 at a time and There is no need for fill out any form for availing such facility.
- But RBI at its discretion can request for proper Identification proof for proper due diligence.
- For higher amount (More than Rs. 20,000) the amount is credited to the bank account anywhere in India. Thus, one should provide the details of bank account along with the valid identification for due diligence.
Modes of Request
- As the Exchange/ Credit to Account service is provided through RBI Regional Offices, you can make an exchange by visiting the Office by person.
- Individuals / Entities from within the country can send Rs. 2000 banknotes through India Post addressed to any of the 19 RBI Issue Offices, as per procedure laid down by the Department of Posts, for credit to their bank accounts in India.
The exchange/ Credit to account is done after verifying the Identity of the party and after proper due diligence by RBI.
Address of 19 Regional Offices
The following are the 19 Regional Offices that have the exchange facility for Rs. 2000 Notes. You can visit the Office or send a Registered post to the office as per your convenience.
| Ahmedabad | Reserve Bank of India (Issue Department) Near Gandhi Bridge, Income Tax Circle, Ashram Road Ahmedabad – 380014 |
| Bangalore | Reserve Bank of India (Issue Department) Post Box No. 5467, 10/3/8, Nrupathunga Road, Bengaluru – 560001 |
| Belapur | Reserve Bank of India (Issue Department) Plot No.3, Sector 10, H.H. Nirmaladevi Marg, CBD Belapur, Navi Mumbai 400 614 |
| Bhopal | Reserve Bank of India (Issue Department) Hoshangabad Road, P.B. No.32, Bhopal-462 011, India |
| Bhubaneswar | Reserve Bank of India (Issue Department) Pt. Jawahar Lal Nehru Marg P.B.No.16 Bhubaneswar-751001 |
| Chandigarh | Reserve Bank of India (Issue Department) Central Vista, Sector 17 Post Bag No.02 Chandigarh – 160 017, India |
| Chennai | Reserve Bank of India (Issue Department) Fort Glacis, No. 16, Rajaji Salai, Chennai – 600 001. |
| Guwahati | Reserve Bank of India (Issue Department) Pan Bazaar, Station Road, Guwahati Assam- 781 001 |
| Hyderabad | Reserve Bank of India (Issue Department) 6-1-56, Secretariat Road, Saifabad, Hyderabad-500 004. |
| Jaipur | Reserve Bank of India (Issue Department) Post Bag No. 12 Rambagh Circle Tonk Road Jaipur – 302 004 |
| Jammu | Reserve Bank of India (Issue Department) Rail Head Complex Jammu – 180012 |
| Kanpur | Reserve Bank of India (Issue Department) Post Box No. 82/142, Mahatma Gandhi Road, Kanpur- 208 001, India |
| Kolkata | Reserve Bank of India (Issue Department) 15, N S Road Kolkata – 700 001 |
| Lucknow | Reserve Bank of India (Issue Department) 8-9 Vipin Khand, Gomti Nagar, Lucknow-226010 |
| Mumbai | Reserve Bank of India (Issue Department) Shahid Bhagat Singh Road, Fort, Mumbai, Maharashtra 400001, India |
| Nagpur | Reserve Bank of India (Issue Department) Dr. Raghavendra Rao Road Civil Lines, P.B.No.15, Nagpur – 440 001 |
| New Delhi | Reserve Bank of India (Issue Department) 6, Sansad Marg, New Delhi – 110001 |
| Patna | Reserve Bank of India (Issue Department) South Gandhi Maidan Patna – 800 001 |
| Thiruvananthapuram | Reserve Bank of India (Issue Department) Bakery Junction Thiruvananthapuram Kerala – 695 033 |
Conclusion
Thus, it is really an easy process to exchange the Rs. 2000 Notes with these options from anywhere in country.
There is no timeline provided for exchange for notes. But it is advisable to Exhange the Rs. 2000 Notes as early as possible to avoid any conflict.