What to Do When Your Rs 2,000 Note isn’t Accepted by Banks In India

RBI Announcement on Rs 2,000 Notes

INDIA: Reserve Bank of India (RBI) recently announced their intent to withdraw Rs 2,000 notes from circulation and has instructed customers either deposit them into their bank accounts or exchange them at any bank branch by September 30, 2023. Bank customers have the freedom and discretion to deposit these notes as usual without restrictions or limitations.

Guide What to Do When Your Rs 2,000 Note isn't Accepted by Banks

Filing a Complaint With the Bank

If a bank refuses to exchange or accept your Rs 2,000 note in accordance with an RBI directive, your first step should be filing a complaint with them.

What If the Bank Refuses to Respond?

If the bank fails to respond within 30 days or you are dissatisfied with their resolution, you may take your complaint further and escalate it through the Complaint Management System portal of RBI.

How to File a Complaint Under the One Nation One Ombudsman Scheme

There are four methods available to you under the One Nation One Ombudsman Scheme for filing complaints:

Contact the Reserve Bank of India between 9:30 AM and 5:15 PM between Monday through Saturday by dialling their toll-free number, 14448, writing an email to [email protected], mailing your complaint by post (Centralised Receipt and Processing Centre, Reserve Bank of India, 4th Floor Sector 17, Chandigarh 160017), or online at https://cms.rbi.org.in registering it through their CMS system

Online Complaint Filing Process

Steps involved in filing an online complaint include these.

Visit the official website and click on ‘File a Complaint.’ Fill in your personal details, choose an entity to file against, and provide specifics of your grievance. Ultimately, enter detailed information regarding the nature and cause of your dispute.
Upload a scanned copy of the complaint raised with your bank. Enter your bank details and choose an appropriate category of complaint for review and submission. Review, revise, and submit your submission before downloading a copy for future reference.

No bank can legally refuse to exchange or accept your Rs 2,000 note, should such an event arise, there are established procedures in place that can quickly and effectively resolve it.

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