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Last date to exchange or deposit 2000 notes: What will happen if one can't deposit or exchange 2000 banknotes by October 7? Know what the RBI governor said!

Will you be able to exchange or deposit 2000 notes after last date Oct 7? RBI governor Shaktikanta Das explains

The Reserve Bank on 30th Sep extended the deadline to exchange or withdraw Rs 2,000 bank notes until October 7. 

₹2,000 notes: Will you be able to exchange or deposit notes after Oct 7? RBI governor explains

<h2>The Reserve Bank on 30th Sep extended the deadline to exchange or withdraw Rs 2,000 bank notes until October 7.&nbsp;</h2>

The extended deadline to exchange or deposit ₹2000 notes is just a day away. But if you're worried about missing the deadline of 7th October, then there's some good news for you.&nbsp;&nbsp;
<h3>RBI governor on 2000 notes exchange or deposit after October 7</h3>
RBI governor has clarified that even after the deadline, ₹2000 notes can be exchanged or deposited in the Reserve Bank issue offices. There are 19 such RBI issue offices in various state capitals. Not just that, if you don't live in one of these 19 cities you can also use the postal department to send the notes to the RBI.
During the post credit policy press conference, the governor also pointed out that so far about 3.43 lakh crore worth of ₹2000 notes have been returned and about 12,000 crore is remaining. Of what has been returned, about 87% has come back as bank deposits.
The RBI had extended the special drive to withdraw Rs 2,000 bank notes from the system by an extra week from September 30th till October 7th. RBI had announced withdrawal of ₹2000 rupee notes on the 19th of May.&nbsp;
<h3>RBI Credit Policy October 2023&nbsp;</h3>
For the fourth time in a row, the RBI Monetary Policy Committee has kept the repo rate unchanged at 6.5%. During the credit policy announcement, RBI governor Shaktikanta Das cautioned on the need to remain vigilant towards inflation.
RBI's GDP growth forecast and inflation forecast for FY24 has been retained at 6.5% and 5.4% respectively.
<a href="https://www.editorji.com/business-news/economy/rbi-monetary-policy-2023-repo-rate-left-unchanged-at-6-5-1696568703763" target="_blank">Also watch: RBI Credit Policy decision </a>

Reserve bank of India keeps the repo rate unchanged at 6.5%, though RBI governor Shaktikanta Das clarified that this pause on repo rate is only for this meeting

Repo rate unchanged at 6.5%; 'Ready to act if warranted', says RBI governor 

Reserve Bank of India keeps the repo rate unchanged at 6.5%, though RBI governor Shaktikanta Das clarified that this pause on repo rate is only for this meeting

Reserve Bank of India has kept the repo rate unchanged at 6.5%. The monetary policy committee unanimously decided to pause on the policy rates. However, RBI governor Shaktikanta Das clarified that this pause on repo rate is only for this meeting.
Pointing out that the global economy is facing a renewed phase of turbulence, the governor said that RBI will be ready to act, should the situation warrant. With the repo rate having been hiked by a total of 250 basis points in the last 11 months (since May 2022), the governor said that it was now necessary to evaluate the cumulative impact of the rate hikes. Explaining the reasons behind the pause, governor said that though there is improvement in global economic activity, there are additional downside risks on financial stability concerns.&nbsp;
On the domestic front, the RBI governor said that banks and NBFCs remain healthy and economic activity remains resilient. Pointing out that core inflation was still high,&nbsp; governor Das emphasised that the monetary policy remains unwaveringly focused on inflation and remains committed to price and financial stability.&nbsp; GDP growth is projected at 6.5% for FY24. The inflation forecast for FY24 stands at 5.2%.

The Reserve Bank of India has increased the key repo rate by 25 basis points to 6.5%. GDP growth projected at 6.4% for 2023-24 and the central bank will continue to keep a strong vigil on inflation. 

Highlights of RBI's monetary policy statement

The Reserve Bank of India has increased the key repo rate by 25 basis points to 6.5%. GDP growth projected at 6.4% for 2023-24 and the central bank will continue to keep a strong vigil on inflation.&nbsp;

Get ready to pay more for your loan EMIs. The Reserve Bank of India has hiked the key repo rate by 0.25% to 6.5%. This is the 6th rate hike by the central bank since May 2022. The RBI governor said that the impact of the rate hikes are still working their way through the system. Here are the key highlights of the governor&rsquo;s speech. INDIAN ECONOMIC OUTLOOK The Indian economy remains resilient. Sustained urban and rural demand, govt&rsquo;s thrust on capital expenditure among other things should sustain economic activity. In fact, several high frequency indicators point towards strengthening of activity. However, a weak external demand and uncertain global scenario could be a drag on India&rsquo;s growth. GDP growth for 2023-24 has been projected at 6.4%. ON INFLATION The governor pointed out that core inflation is sticky and that remains a matter of concern. The RBI will remain unwavering in the commitment to bring down inflation. Inflation is projected at 6.5% for 2022-23 and at 5.3% for 2023-24. From the governor&rsquo;s comments, it&rsquo;s clear that another rate hike has not been ruled out. The RBI will &ldquo;weigh all incoming data and forecasts to determine appropriate action and policy state going forward&rdquo;.
ON THE RUPEE The RBI governor highlighted that the Indian rupee was one of the least volatile currencies among other Asian currencies. He also pointed out that the depreciation and volatility of the Rupee is much lower than during the global financial crisis. GLOBAL OUTLOOK On the global scenario, the RBI governor said that things do not look as grim as they did a few months ago, however a high degree of uncertainty remains. Inflation, although has eased, still remains above the target in major economies.

RBI has raised rates by a total 190 basis points since its first unscheduled mid-meeting hike in May&nbsp;

RBI Monetary Policy Live Updates: Repo rate hiked by 35 bps

RBI has hiked the repo rate for the fifth time in a row

RBI has raised rates by a total 190 basis points since its first unscheduled mid-meeting hike in May&nbsp;

The Reserve Bank of India's Monetary Policy Committee voted 5-1 to increase increase repo rate by 35 basis points to 6.25 percent, RBI Governor Shaktikanta Das said on December 7. Further, Standing Deposit Facility rate and Marginal Standing Facility rate are also increased by 35 basis points each to 6 percent and 6.5 percent, respectively.

rbi monetary policy updates

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