E-commerce giant Amazon has shared an update on the acceptance of ₹2000 banknotes on cash on delivery services. As per Amazon’s FAQ on ‘using Rs. 2,000 notes for Cash on Delivery (COD) Payments and Cashloads’, the e-commernce company has said that starting from 19 September, they will stop accepting ₹2000 currency notes as cash.

“Amazon is currently accepting Rs. 2,000 currency notes. However, from September 19, 2023, we will not be accepting Rs. 2,000 currency notes for cashloads or Cash on Delivery (COD) payments for orders Fulfilled by Amazon.”

However, it further added that if the product is delivered through a third-party courier partner, then the ₹2000 currency notes will be accepted.

“However, if your product is delivered through a third-party courier partner, their own policies around the acceptance of Rs. 2,000 currency notes will apply,” it said.

In case you still have ₹2000 notes, you can exchange it from the nearest bank branch. Many people are still approaching banks to exchange or deposit their ₹2000 banknotes after the Reserve Bank of India (RBI) removed them from circulation on 19 May 2023. The Reserve Bank had given nearly four months to deposit or exchange notes worth ₹2000. Banknotes in the denomination of ₹2000 must be exchanged or deposited by September 30, 2023.

According to the RBI press release issued on May 19, 2023, “The facility for deposit and/or exchange of ₹2000 banknotes shall be available for members of the public up to September 30, 2023.The facility for exchange of ₹2000 banknotes shall be provided to all members of the public by all banks through their branches.”

The RBI had stated that 50% of ₹2000 notes in circulation had been returned to banks within 20 days of the withdrawal announcement. The Indian banks received ₹2.72 trillion worth of ₹2,000 banknotes up to 30 June, after the Reserve Bank announced their withdrawal on 19 May, Union Minister of State for Finance Pankaj Chaudhary had said in a written reply to a question in Rajya Sabha on 25 July. According to the RBI, as much as 76 percent of the ₹2,000 currency notes in circulation have either been deposited or exchanged at banks.

Source By: livemint

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