The central bank cited operations related to "Annual Closing of Accounts" as the reason behind the unavailability of exchange and deposit services. The facility will resume on Tuesday.
"The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches in the country up to October 07, 2023. The facility for the exchange of the Rs2000 banknotes has been available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19,
The central bank's periodic updates provide transparency regarding the progress of the withdrawal initiative, assuring the public of the continued legal status of Rs 2000 banknotes.
The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. As of November 30, it was at Rs 9,760 crore.
After commercial banks stopped accepting Rs 2000 banknotes, people have now started lining up in 19 offices of the Reserve Bank of India (RBI) to exchange their high-denomination notes.
On May 19, the RBI decided to withdraw the Rs 2000-denomination banknotes from circulation but said it would continue to remain legal tender. However, the RBI had advised banks to stop issuing such banknotes with immediate effect.
September 30 has been decided as the last date for the purpose of completing the exercise in a time-bound manner and to provide adequate time to the public. RBI may or may not revisit the September deadline based on the situation going ahead.
Every day in Pakistan, more people are joining the nationwide protest against excessive electricity prices. As a form of protest, people are taking to the streets and burning their banknotes, ARY News reported.