People queuing up at RBI office.. do you know why..?

Sowmiya Sriram
People queuing up at RBI office.. do you know why..?
While the RBI had announced on May 19 that it would withdraw the Rs 2000 note from use, the deadline given till september 30 has been extended to october 7. In this situation, since october 8, banks have refused to accept 2,000 rupee notes, and people are now standing in queues at 19 bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india offices to exchange 2,000 rupees.
It is noteworthy that from May 19 to october 7, people moved easily without large crowds in the banks. After evening banking hours on october 7, the services of exchanging Rs 2000 notes from people into deposits and other currency notes at bank branches were stopped. RBI said in a september announcement that from october 8, people will be able to exchange money at 19 RBI branches across India. RBI governor Shaktikanta Das said Rs 2,000 notes worth approximately Rs 3.43 lakh crore have been returned, leaving Rs 12,000 crore worth of notes still in public use. In this situation, for the past one week, people thronged all the RBI offices in the country to exchange Rs 2,000 notes. Especially in the capital Delhi, people were standing in queues to exchange 2000 rupees at RBI offices. Individuals or companies are allowed to exchange Rs 2000 notes up to Rs 20,000 at a time at 19 RBI offices across India. Meanwhile, if you want to send money to your bank account, you can exchange Rs.2,000 notes without any limit.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

RBI

Related Articles: