Citizens can now mail Rs 2,000 notes to RBI for instant bank account credit

Citizens now have the option to send their Rs 2,000 banknotes to specific regional offices of the Reserve Bank of India (RBI) through insured post for direct credit to their bank accounts. This convenient alternative is particularly beneficial for those residing far from RBI regional offices. Additionally, the RBI is providing a Triple Lock Receptacle (TLR) form to facilitate the deposit of Rs 2,000 banknotes into bank accounts.

RBI Regional Director Rohit P Das encouraged customers to utilise the insured post to send their Rs 2,000 notes to the RBI for secure and hassle-free direct credit to their accounts, saving them the trouble of visiting designated branches and waiting in queues. Both the TLR and insured post options are highly secure, ensuring public confidence. The RBI has been emphasising these two options in its communications, in addition to the exchange service at its offices.

On May 19, the RBI announced the withdrawal of Rs 2,000 banknotes from circulation, and over 97 per cent of these notes have been returned as of May 19, 2023.

Special service arrangements

Reserve Bank of India Governor Shaktikanta Das detailed special arrangements made by the Delhi regional office, including separate queues for senior citizens and individuals with fewer currency notes for faster service. Facilities such as drinking water and covered waiting areas have been set up to ensure convenience for the public. Notably, Rs 2,000 notes remain legal tender.

Initially, the public and entities were instructed to either exchange or deposit these notes in bank accounts by September 30, with an extension to October 7. Both deposit and exchange services at bank branches ceased on October 7. Since October 8, individuals have had the option to either exchange the currency or have the equivalent amount credited to their bank accounts at 19 RBI offices across the country.

The 19 RBI offices facilitating the deposit/exchange of Rs 2,000 banknotes are located in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. These Rs 2,000 banknotes were introduced in November 2016, following the demonetisation of the previous Rs 1,000 and Rs 500 banknotes.

(With PTI Inputs)