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2000 Rupee Note: RBI has announced that public can’t exchange Rs 2000 note on this day


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On January 22, during the consecration of the Ram temple in Ayodhya, the Reserve Bank offices will not provide the service of exchanging or depositing Rs 2,000 notes. The Department of Personnel and Training has ordered a half-day closure for central government establishments on that day. Consequently, public sector banks, insurance companies, financial institutions, and regional rural banks (RRBs) across the country will observe a half-day closure on January 22.

In a statement, the Reserve Bank of India informed the public that the exchange/deposit of Rs 2,000 banknotes will not be available at any of the 19 Issue Offices on Monday, January 22, 2024, due to the government’s half-day closure. The facility is set to resume on Tuesday, January 23, 2024.

It’s worth noting that on May 19 of the previous year, the RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation. The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore on May 19, 2023, had decreased to Rs 9,330 crore by December 29, 2023. As of the latter date, 97.38% of the high-value currency in circulation as of May 19, 2023, had been returned to the banking system.

Introduced in November 2016 following the demonetization of Rs 1,000 and Rs 500 banknotes, Rs 2,000 notes continue to be legal tender.

Note Exchange Facilities at RBI Offices:

The Reserve Bank of India (RBI) provided the option to exchange Rs 2000 notes in banks and post offices until October 8, 2023. Individuals who missed this deadline can still avail themselves of the exchange facility by visiting any of the 19 designated RBI offices. These offices are located in key cities such as New Delhi, Patna, Lucknow, Mumbai, Bhopal, Jaipur, Chandigarh, Ahmedabad, Hyderabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chennai, Guwahati, Jammu, Kanpur, Kolkata, Thiruvananthapuram, and Nagpur.

Holiday Declaration in Maharashtra:

The Maharashtra government has declared a holiday on January 22 under Section 25 of the Negotiable Instruments Act, 1881. Consequently, there will be a suspension of transactions in primary and secondary government securities, money markets, and rupee interest rate derivatives on this day. Normal transactions in these markets are set to resume from January 23 onwards.

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