India News Live: No proposal to extend deadline for exchange of Rs 2,000 notes: Finance Ministry

The Finance Ministry has said that there is no proposal to No extension for Rs 2000 the deadline for the exchange of Rs 2,000 notes beyond September 30, 2023. The Reserve Bank of India (RBI) set the deadline in May 2023, when it announced the withdrawal of Rs 2,000 notes from circulation.

In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said that the government has no plans to No extension for Rs 2000 the deadline.

The RBI has taken steps to ensure that all Rs 2,000 notes in circulation are deposited or exchanged by the deadline, he said.

The RBI has set up special counters at banks across the country to facilitate the exchange of Rs 2,000 notes. It has also allowed banks to accept deposits of Rs 2,000 notes in current accounts without any limit.

The government’s decision not to extend the deadline has been met with mixed reactions. Some people have welcomed the decision, saying that it will help to streamline the process of withdrawing Rs 2,000 notes from circulation. Others have expressed concerns that the decision will inconvenience people who are still holding on to Rs 2,000 notes.

Government Says No to Extension of Rs 2000 Note Exchange Deadline

The RBI has said that it will continue to accept deposits of Rs 2,000 notes after the deadline, but they will not be exchangeable. This means that people who still have Rs 2,000 notes after the deadline will not be able to use them to make payments.

The government has said that it will take steps to help people who are unable to exchange their Rs 2,000 notes before the deadline. These steps could include providing them with a grace period or allowing them to deposit the notes in a special account.

The deadline for the exchange of Rs 2,000 notes is less than two months away. People who still have Rs 2,000 notes should deposit or exchange them as soon as possible to avoid any inconvenience