Starting today, You can’t use ₹2,000 notes HERE

While orders fulfilled by Amazon will no longer permit ₹2,000 notes as payment, third-party courier services may still accept it, according to the e-commerce titan.

The RBI has set 30 September as the cut-off date for the exchange or deposit of ₹2,000 notes. This comes after a substantial portion of the currency has already been returned to the banks.

Union Minister of State for Finance Pankaj Chaudhary earlier revealed that ₹2.72 trillion worth of ₹2,000 banknotes were received by Indian banks by 30 June. According to RBI, as much as 76% of these high-denomination notes have either been deposited or exchanged at banks.

Amazon’s decision to discontinue the acceptance of ₹2,000 notes from September 19 follows a larger trend of the phasing out of the high-denomination note. However, this change will not affect those who opt for delivery through third-party courier partners associated with Amazon.

These courier services will apply their own policies regarding the acceptance of ₹2,000 notes, offering an alternate avenue for those still holding onto the soon-to-be-defunct currency.

The decision by Amazon and the Indian government’s previous announcements contributed to a rush among citizens to exchange their ₹2,000 notes. 

As the deadline for depositing or exchanging these high-value banknotes approaches, financial institutions have experienced an increase in public interest in performing these transactions.

RBI earlier disclosed that 50% of the ₹2,000 notes were returned to banks within just 20 days of the withdrawal announcement.

Updated: 19 Sep 2023, 09:49 AM IST