According to RBI s statement, while the deposit or exchange at bank branches will now be stopped after October 7, customers can continue exchange these notes at the 19 RBI issue offices up to a limit of ₹20,000 at a time.
September 30 has been decided as the last date for the purpose of completing the exercise in a time-bound manner and to provide adequate time to the public. RBI may or may not revisit the September deadline based on the situation going ahead. Rs 2000 Note Withdrawal: 88% Notes Returned to Banking System, Says RBI.
The Supreme Court of India has refused to entertain a plea challenging the Delhi HC s decision to dismiss a PIL against the RBI s notification permitting the exchange of ₹2,000 currency notes without any requisition slip and ID proof. The court cited executive policy decision in its refusal.
There have been many claims that the RBI will withdraw Rs 500 notes after it issued a withdrawal of the Rs 2000 bank notes, stating a deadline of September 31.