The Reserve Bank of India (RBI) has extended the deadline for the exchange of Rs 2,000 banknotes until October 7, 2023, beyond the original deadline of September 30. The decision to extend the exchange period was made after reviewing the withdrawal process. According to the RBI, out of the total value of Rs 3.56 lakh crore worth of Rs 2,000 banknotes in circulation as of May 19, 2023, Rs 3.42 lakh crore has been returned. After October 7, banks will stop accepting Rs 2,000 banknotes for credit or exchange, but they will continue to be legal tender and can be presented at the 19 Regional Offices of RBI for credit to bank accounts or exchange.