How to exchange Rs 2000 notes in Hyderabad as last date nears

Hyderabad: Ahead of the deadline for exchanging Rs 2000 denomination notes, people in Hyderabad are still uncertain about where to perform the exchange.

The Rs 2000 denomination notes can be exchanged or deposited at banks in Hyderabad until the last date, which is September 30.

Having an account in the bank is not mandatory for exchanging notes, and there is no need to submit any ID proof. However, there is a limit on the number of notes that can be exchanged at once. A maximum of Rs 20,000 can be exchanged per person per visit.

Those with accounts can also opt to deposit the notes. When depositing, there is no limit on the number of notes. However, for Jan Dhan accounts, the usual limits will apply.

Withdrawal of Rs 2000 notes

Even though the RBI had decided to withdraw Rs 2000 notes from circulation in May 2023, the printing of these notes had already stopped in the 2018-19 financial year.

By March 31, 2023, the total value of Rs 2000 notes in circulation had decreased from Rs 6.73 lakh crore to Rs 3.62 lakh crore, making up only 10.8 percent of the total notes in circulation.

Under the new RBI guidelines, banks can exchange Rs 2000 banknotes for up to Rs 20,000 per account holder, with a maximum of 10 notes per transaction.

Bank holidays in Hyderabad

As exchanges of denomination notes can be conducted in banks, it’s important to note that banks will be closed for eight days in September.

Banks will be closed on Sundays and the second Saturday. Additionally, in Hyderabad, banks will also be closed on September 7th, 18th, and 28th due to Janmashtami, Vinayaka Chaturthi, and Eid-E-Milad respectively.

List of bank holidays in September 2023

Here is the list of RBI-declared bank holidays in September 2023. Not all holidays will be observed by banks in Hyderabad.

  • September 3: Sunday
  • September 6: Sri Krishna Janmashtami
  • September 7: Sri Krishna Ashtami
  • September 8: G-20 Summit
  • September 9: Second Saturday
  • September 10: Sunday
  • September 17: Sunday
  • September 18: Vinayaka Chathurthi
  • September 19: Ganesh Chaturthi
  • September 20: Ganesh Chaturthi (2nd day)/Nuakhai
  • September 22: Sree Narayana Guru Samadhi Day
  • September 23: Birthday of Maharaja Hari Singh Ji
  • September 24: Sunday
  • September 25: Janmotsav of Srimanta Sankardeva
  • September 27: Milad-i-Sherif
  • September 28: Eid-E-Milad
  • September 29: Indrajatra

Among these September holidays, banks in Hyderabad will be closed on the 7th, 18th, and 28th of the month, as well as on Sundays and the second Saturday.