RS 2000 DEPOSIT
Rs 2000 notes: 97.87% returned; Rs 7,581 crore worth notes still with public
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
Punjab & Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25
State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth. "The board has already given approval, and merchant bankers should be on-boarded by August," Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI.
Consolidation phase to continue for banks; SBI, HDFC remain preferred picks: InCred Equities
The domestic brokerage firm also stated that the bank managements are already adopting various means including driving staff KRAs and incentivizing employees towards higher deposit augmentation and the recent branch expansion of most banks in semi-urban/rural areas will drive the CASA deposits momentum
2.2 pc of Rs 2000 banknotes, with value of Rs 7755 crore, still in circulation
Approximately 2.2% or Rs 7,755 crore of Rs 2,000 banknotes are still in circulation, 8 months after the deadline to exchange them. 97.82% of the total value is back in the banking system by May 2024.
Anticipating INDIA bloc victory, women rush to open India Post accounts to get Rs 8,500 per month
Bengaluru's General Post Office is crowded with women, mainly from minority communities, rushing to open India Post Payment Bank accounts. They believe they'll receive Rs 8,500 monthly if the INDIA bloc wins the election. The Chief Post Master clarified it's a rumor, but the rush persists, with hundreds of accounts opened daily.
Bank locker charges 2024: SBI vs HDFC Bank vs ICICI Bank vs Canara Bank vs PNB
A safe deposit box is a personal vault offered to the banks’ customers to keep their valuables and belongings safe. Depending on the size of the locker, there is a fee associated with it.
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Go First exposure, pension provisions restrict Bank of Baroda Q4 net growth to 2 pc
Without naming Go First, its Chief Executive and Managing Director Debadatta Chand said the bank recognised an aviation account with a Rs 1,700-crore exposure as a non-performing asset during the quarter, and also decided to provide for it fully within a single quarter leading to a huge jump in provisioning for NPAs to Rs 1,485 crore from the Rs 320 crore in the year-ago period.
India's transaction trends: ePayment riches leave circulation of currency poorer
India's transition to digital payments is effectively curbing the traditional outflow of currency from its banking system, as evidenced by the sharpest decline in the growth of currency in circulation (CIC) since demonetisation in FY24. The Reserve Bank of India's (RBI) decision to phase out Rs 2,000 banknotes from circulation last year further contributed to this trend.
97.76% of Rs 2000 currency notes returned, says RBI
The Reserve Bank of India (RBI) reported that 97.76% of the Rs 2000 denomination banknotes have been returned to the banking system, leaving only Rs 7,961 crore with the public. Since the announcement of their withdrawal from circulation on May 19, 2023, the total value of Rs 2000 banknotes has decreased from Rs 3.56 lakh crore to Rs 7,961 crore by April 30, 2024. Despite the withdrawal announcement, Rs 2000 banknotes remain legal tender.
97.69% of Rs 2,000 currency notes returned: RBI
The Reserve Bank of India (RBI) reported that nearly 97.69% of the Rs 2000 denomination banknotes have returned to the banking system, leaving only Rs 8,202 crore worth of withdrawn notes still with the public. The total value of Rs 2000 banknotes in circulation has declined from Rs 3.56 lakh crore on May 19, 2023, when the withdrawal was announced, to Rs 8,202 crore on March 29, 2024.
RBI announces temporary halt to Rs 2,000 banknote exchange/deposit on April 1
The Reserve Bank of India (RBI) has announced that the facility to exchange or deposit Rs 2,000 banknotes will not be available on Monday, April 1, 2024, due to operations associated with the annual closing of accounts. This facility will resume on Tuesday, April 2, 2024, at the 19 issue offices of the RBI. The RBI had previously announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023.
Impact of Rs 2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7% in Feb
The growth rate of currency in circulation slowed down to 3.7% for the week ended February 9, compared to 8.2% a year earlier, due to the Reserve Bank of India's decision to withdraw Rs 2,000 banknotes. Currency in circulation includes all notes and coins in circulation, excluding cash held by banks. Commercial banks also saw double-digit growth in deposits in January, which can be linked to the withdrawal of Rs 2,000 notes.
Facility to exchange/deposit Rs 2,000 notes to remain closed on Jan 22: RBI
The Rs 2,000 bank notes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 bank notes. The Rs 2,000 bank notes continue to be legal tender.
What is the last date for exchange Rs 2000 banknotes in RBI?
Rs 2,000 currency notes exchange: The last date to deposit and exchange Rs 2000 banknotes at bank branches was October 7, 2023. However, individuals, entities can still exchange and deposit Rs 2000 banknotes at the 19 RBI Issue Offices.
Exchange of Rs 2000 note at RBI Mumbai office will not be available tomorrow
The Reserve Bank of India (RBI) informed that owing to operational considerations, the exchange of Rs 2,000 notes will not be available on January 12 at the RBI's Mumbai Regional Office.
RBI says Rs 2,000 notes can be exchanged through post offices as well
In May last year, the apex bank announced its decision to withdraw the Rs 2,000 notes, which was first introduced after the demonetisation exercise in 2016. The decision to withdraw the Rs 2,000 notes was taken as most of these notes had exceeded their expected lifespan and were also not being used by the public for transactions, the RBI had said.
97.38 percent of Rs 2000 notes back with RBI
The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹9,330 crore at the close of business on December 29, 2023, RBI said
How to get Rs 2000 notes deposited, exchanged after October 7 deadline
RBI did not extended the deadline to deposit, exchange Rs 2000 after the deadline to do so expired on October 7, 2023. However there is no need to panic or worry as there is an alternative way using which people can still exchange, deposit their Rs 2000 notes even now.
Now, you can send Rs 2,000 notes via post directly to RBI
People can now send their Rs 2,000 banknotes to regional offices of RBI via insured post for direct credit in their bank accounts, providing convenience for those unable to visit in person. RBI offers a Triple Lock Receptacle (TLR) form for deposits. The options are secure and eliminate the need to travel to designated branches and stand in queues.
RBI reveals over 97% of Rs 2,000 notes returned, Rs 10,000 crore worth notes still in circulation
The Reserve Bank of India (RBI) said in a circular on Wednesday that it has received over 97 per cent of Rs 2,000 notes, however, notes worth Rs 10,000 crore are still with public. This year in May, the bank had officially announced the withdrawal of Rs 2,000 notes.
What will happen if one cannot deposit, exchange Rs 2,000 banknotes by October 7, 2023?
Rs 200o currency note exchange: The Reserve Bank of India (RBI) extended the deadline to exchange, deposit of Rs 2000 to October 7, 2023. According to the RBI press release, the following will happen from October 8, 2023.
Latest deadline: What is the last date to exchange or deposit Rs 2,000 bank notes?
Rs 2,000 exchange deadline: Members of the public can exchange Rs 2000 banknotes up to to a limit of Rs 20,000 at a time.
Last date to exchange Rs 2000 bank notes extended
The Reserve Bank of India has extended the deadline to exchange, deposit Rs 2000 deadline from September 30, 2023.
Will you be able to exchange, deposit 2000 notes in banks after new RBI deadline of Oct 7? RBI clarifies
The Reserve Bank of India (RBI) has now clarified what will happen to Rs 200 currency notes when new deadline of October 7, 2023 expires.
Will you be able to exchange or deposit Rs 2000 notes after September 30?
The Reserve Bank of India, in its notification dated May 19, 2023, announced the withdrawal of Rs 2,000 note from circulation. The RBI asked the public to deposits and/or exchange the Rs 2000 currency notes by September 30, 2023. However, the notification did not clarified what will happen if an individual is not able to deposit or exchange Rs 2000 note by September 30. Do note that Rs 2000 note continues to remain legal tender.
Going to the bank to exchange Rs 2,000 currency notes? Keep these 4 things in mind
The last date to exchange or deposit Rs 2000 banknotes is September 30, 2023. The general public can visit bank offices to deposit their Rs 2000 banknotes or exchange them for new ones.
Rs 2,000 note deposit rules: These banks do not levy any service charges
Rs 2,000 withdrawn: The central bank urged the public to deposit Rs 2,000 banknotes into their accounts or exchange them for other denominations. Many banks have set certain rules around deposits and exchanges of Rs 2000 banknotes.
Planning to deposit Rs 2000 banknotes? How to deposit at ICICI Bank cash deposit machine
The deadline to deposit, exchange Rs 2000 is September 30, 2023, according to the Reserve Bank of India (RBI).
Planning to deposit all your Rs 2,000 notes at one go? Watch out for these service charges
Majority of banks levy service charges for cash transactions (deposits and withdrawals) done by a customer if a specified amount is crossed within a month. If you are planning to deposit your old Rs 2,000 banknotes in a bank branch, you may have to pay a service charge too. Let's find out about the daily limit, charges, and other details of depositing Rs 2,000 banknotes.
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