Will the last date for submission of Rs 2000 notes be extended? Know the government’s response
New Delhi, July 25 (SO News/Agencies) The Reserve Bank of India (RBI) has set September 30, 2023 as the last date to replace the Rs 2000 notes. If you still have Rs 2000 notes, deposit it in the banks before the last date. Because the government is not extending the last date for collection of Rs.2000 notes.
Some members in Parliament had asked the government whether the last date for submission of Rs 2000 notes will be extended. The Finance Ministry has responded to this and clarified the situation regarding the extension of the last date for collection of Rs.2000 notes. It should be noted that RBI had announced withdrawal of Rs 2000 notes on May 19. The deadline for submission is September 30.
Clarifying the situation on the deadline extension, the Finance Ministry said that the last date for depositing Rs 2000 notes will not be extended further. That is, those who still have Rs 2000 notes will have to deposit them before September 30.
Several MPs, including Supriya Sole, had asked questions about this during the monsoon session of Parliament. Answering questions from MPs, state finance minister Pankaj Chaudhary clarified that there will be no change in the deadline.
He said that currently the government is not considering any such decision. The Minister of State for Finance said that stock of other currency is available to replace Rs 2000 notes.
The Reserve Bank of India took a major decision on the largest currency note of Rs 2000 in May. However, the Reserve Bank had said that the Rs 2,000 notes will remain valid till September 30. The Reserve Bank of India had decided to demonetize the Rs 2000 note under the ‘Clean Note Policy’. Under this policy RBI is gradually withdrawing 2000 notes from the market.
It may be recalled that Prime Minister Narendra Modi had announced demonetisation in the country on 8 November 2016. After that 500 and 1000 notes were withdrawn from circulation. This decision of the government caused quite a stir in the country, but then the new notes became part of the currency market.
The government had issued new notes of 200, 500 and 2000, but now the 2000 note is being withdrawn from circulation. After demonetization in November 2016, the country was in chaos for the next several months. People had to stand in long queues at banks to deposit old notes and get new notes.
