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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>

The decision of RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) has been announced on Friday. The Reserve Bank of India (RBI) has hiked the repo rate by 50 basis points to 5.90%, the fourth straight increase in the current cycle, to tame sustained above-target retail inflation rate.
RBI had slashed the repo rate in March, 2020 with an aim to cushion the impact of covid-induced lockdown, and maintained status-quo in the benchmark interest rate for almost two years before increasing it on May 4, 2022.

RBI increases Repo rate by 50 bps to 5.9%

RBI has maintained consumer price index (CPI) inflation forecast for FY23 at 6.7%
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The decision of RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) has been announced on Friday. The Reserve Bank of India (RBI) has hiked the repo rate by 50 basis points to 5.90%, the fourth straight increase in the current cycle, to tame sustained above-target retail inflation rate.
RBI had slashed the repo rate in March, 2020 with an aim to cushion the impact of covid-induced lockdown, and maintained status-quo in the benchmark interest rate for almost two years before increasing it on May 4, 2022.

RBI policy: central bank to fire the rate rage machine again

RBI to fire the rate rage machine again

India is closely knit to the global economy and had to take remedial actions to control inflation, which is driven by domestic as well as global factors

The Central Banks around the world have been raising interest rates since the middle of 2022 after the continuous hostilities between Russia-Ukraine led to initial higher inflation across the globe.&nbsp;
As the Federal Reserve raised rates by 75 basis points and the central banks of the UK and the EU have also gone for rate hikes to tame inflation, the Reserve Bank of India (RBI) may also take cues from its global counterparts.&nbsp;
The consumer price index (CPI) based on retail inflation, which had started showing signs of moderation in May, has again firmed up to 7 per cent in August. The RBI takes into account retail inflation while framing its bi-monthly monetary policy.
The RBI, which has since May raised the repo rate by 140 basis points (bps), may again go for a 50-bps increase to take it to a three-year high of 5.9 per cent, say experts.&nbsp;
The government has tasked the RBI to ensure the retail inflation remains at 4 per cent, with a margin of 2 per cent on either side.&nbsp;
RBI had effected 50 basis points increase in repo rate each in June and August after raising the short-term lending rate by 40 basis points in an off-cycle decision in May.
The MPC, headed by RBI Governor Shaktikanta Das, is scheduled to meet during September 28-30.&nbsp;

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