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Depositing ₹2,000 note at cooperative banks will be hassle free
Eight district cooperative banks in Maharashtra continued to face the challenge of preserving ₹112 crore in old currency notes
According to Pune based cooperative banks management, acceptance of ₹2,000 note will be a hassle-free exercise as the denomination is still in practice. It may be recalled that since the last demonetisation exercise, eight district cooperative banks in Maharashtra continued to face the challenge of preserving ₹112 crore in old currency notes amid the Reserve Bank of India’s (RBI’s) refusal to accept them even after six years of demonetisation.
Pune district Central Cooperative Bank chairman Digambar Durgade said, “ Accepting ₹2,000 at the bank is not a challenge as it is still a legal tender till September 30, and there is no specific instruction by the government that it won’t be a legal tender thereafter. As far as old currency is concerned, our case is being heard in the Supreme Court.”
Subhash Mohite, president of Pune Urban Cooperative Bank Association said, “ ₹2,000 note is still a legal tender and the banks have been instructed to accept them from May 23 to September 30 in the customers bank account or exchange them for other denominations.”
The bank further stated that to complete the exercise in a time-bound manner and to provide adequate time to the members of the public, all banks shall provide deposit and/or exchange facility for ₹2,000 banknotes until September 30.
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