SB Order 11/2023 -2000 Denomination Banknotes Withdrawal Circulation

2000 Denomination Banknotes – Withdrawal from Circulation: DoP SB Order 11/2023

Letter NumberNo. FS-10/21/2023-FS-D
Letter Dated22.05.2023
Issued byDepartment of Posts
(F.S. Division)
SubjectSB Order 11/2023 -2000 Denomination Banknotes Withdrawal Circulation
Signed By(T C VIJAYAN)
Asst.Director (SB-I)
Download PDFClick Here

Subject: Rs. 2000 Denomination Banknotes – Withdrawal from Circulation — Regarding.

SB order 11/2023

Reserve Bank of India in Press Release No. 2023-2024/257 dated 19.05.2023 in pursuance of its ‘Clean Note Policy’, has decided to withdraw the Rs. 2000 denomination banknotes from Circulation. The banknotes in Rs.2000 denomination will continue to be legal tender.

2. In this connection, the following instructions are issued to be adhered strictly by the post offices and other units / offices handling the cash.

(a). Rs.2000 denomination banknotes shall not be accepted for exchange in post offices and other offices handling cash. Members of the public should be advised to exchange the notes in the banks. However, acceptance of Rs.2000 denomination banknotes should not be refused for any postal transaction in the offices / units.

(b). Deposit of Rs.2000 denomination banknotes in Post Office Savings Bank accounts which are fully complied with the applicable KYC norms, can be accepted in the usual manner without any restrictions and subject to the extant instructions.

(c). All the offices / units shall discontinue issue of Rs.2000 denomination bank notes.

(d). In ATMs, cash should not be replenished with ¥ 2000 denomination bank notes. It may be ensured that Rs.2000 denomination banknotes are not disbursed from the ATMs. i.e. if the cash balance in the ATMs contains Rs.2000 denomination banknotes, they may be replaced with other denomination banknotes.

(e). Post offices / units should remit Rs.2000 denomination banknotes to the banks on daily basis to ensure non-stock of Rs.2000 denomination banknotes in the post offices and other units / offices.

3. A copy of the Press Release informing the public of the exercise and soliciting their co-operation issued by RBI is enclosed for ready reference which may be displayed in the counter hall, ATM kiosks and other public access areas in the post offices.

4. The above instructions will be effective until 30th September 2023.

5. Circles / Regions are requested to issue suitable instructions to the offices / units and advise them to extend all co-operation to members of the public, so that the exercise is conducted in a non-disruptive manner, without any inconvenience to the public.

6. This may be circulated to all the Offices for information and necessary actions.

7. This is issued with the approval of competent authority.

How useful was this post?

Click on a star to rate it!

Average rating 4.9 / 5. Vote count: 11457

No votes so far! Be the first to rate this post.

You might also like
Leave A Reply

Your email address will not be published.

error: Content is protected !!