No Rush At Bank Branches As Rs 2,000 Notes Exchange Window Opens

Banks did not witness a rush of customers queuing up to exchange their Rs 2,000 currency notes, after the Reserve Bank of India decided to pull them out of circulation.

There were very few people to either deposit or exchange the banknotes at branches in Mumbai and Delhi visited by BQ Prime reporters.

Even the exchange facility at the RBI, which opened on Tuesday, has so far not found many takers.

The RBI announced on Friday the withdrawal of Rs 2,000 currency notes from circulation. While the notes continue to be legal tender, the RBI asked the citizens to exchange the Rs 2,000 notes by Sept. 30.

Still, banks are unlikely to accept the notes for deposits or exchange after Sept. 30, a person with knowledge of the matter told BQ Prime.

Those holding Rs 2,000 currency notes after Sept. 30 may have to approach the Reserve Bank of India's regional offices to exchange them, the person said.