How to Exchange Rs 2000 Notes in Bank: Last Date To Exchange, Daily Deposit Limit?

The ₹2000 note was withdrawn from circulation by the Reserve Bank of India (RBI), but it continues to remain legal tender. Individuals holding ₹2000 notes can exchange them or deposit them for credit to their bank accounts at the 19 RBI Issue Offices, subject to due diligence.

Key Highlights

• Exchange Limit: Up to ₹20,000 at a time can be exchanged at RBI Issue Offices.
• Deposit Facility: ₹2000 notes can be deposited into bank accounts through RBI Issue Offices or sent via India Post.
• PAN Requirement: PAN must be quoted for cash deposits exceeding ₹50,000 in a single day under Rule 114B of the Income Tax Rules.

RBI Guidelines for ₹2,000 Note Exchange

₹2000 notes can no longer be exchanged or deposited at regular bank branches. The exchange or deposit facility is available only at RBI Issue Offices.

Exchange ₹2000 banknotes after 7 October 2023

Public can exchange or deposit ₹2000 banknotes at 19 Regional Offices of RBI having Issue Departments (RBI Issue Offices). People can tender ₹2000 banknotes for credit to their bank accounts at the 19 RBI Issue Offices in India. 

The credit or ₹2000 note exchange is subjected to relevant RBI, submission of valid identity proof documents, government regulations and due diligence as deemed by the RBI. 

The 19 RBI Issue Offices are located in:

• Ahmedabad
• Belapur
• Bangalore
• Bhubaneswar
• Bhopal
• Chennai
• Chandigarh
• Hyderabad
• Guwahati
• Jammu
• Jaipur
• Kolkata
• Kanpur
• Mumbai
• Lucknow
• Patna
• New Delhi
• Nagpur
• Thiruvananthapuram

How to Exchange ₹2000 Notes?

Steps to exchange ₹2000 notes:

• Visit the nearest RBI Issue Office.
• Submit the ₹2000 banknotes for exchange or deposit.
• Provide valid identity proof with the Note Exchange Form, if required.
• Complete the required exchange or deposit form if applicable.
• Exchange is allowed up to ₹20,000 at a time, subject to RBI regulations.

RBI Form for 2000 Note Exchange

For ₹2,000 note exchange at RBI Issue Offices, individuals must fill out the RBI ₹2,000 Note Exchange Form (PDF) provided by the RBI. It includes your personal details, number and value of ₹2,000 notes, bank account info for credit, a declaration about KYC compliance, and documents like ID proof and bank statement.

Deposit Limit of ₹2000 Notes at RBI Issue Offices

₹2000 notes can be deposited at RBI Issue Offices for credit to a bank account. Members of the public can also send ₹2000 banknotes through India Post from any post office to RBI Issue Offices for credit to their bank accounts.

There is no overall deposit limit, but deposits are subject to standard KYC, identity verification, and due diligence requirements as prescribed by the RBI.

PAN Requirement

Under Rule 114B of the Income Tax Rules, PAN must be quoted when cash deposits exceeding ₹50,000 are made in a single day with a bank or financial institution.

Final Word

The ₹2000 note remains legal tender even though it has been withdrawn from circulation by the RBI. Individuals who still hold these notes can exchange them or deposit them for credit to their bank accounts at the 19 RBI Issue Offices across India. The process is subject to RBI guidelines, identity verification, and applicable KYC norms.