SPECIAL REPORT | MAY 2023

THE
ORANGE
BOOK
Leverage your FINANCIAL QUOTIENT

EXPLAINED: What to do with

your `2,000 denomination
banknotes?
Withdrawal of `2,000 denomination
banknotes from circulation
The ₹2,000 denomination banknote was introduced by the Reserve Bank of India (RBI) in
November 2016 primarily to meet the currency requirements of the economy expeditiously after
the withdrawal of the legal tender status of all ₹500 and ₹1,000 denomination banknotes.

With the fulfilment of that objective and once notes of other denominations were available in
adequate quantities, the printing of ₹2,000 denomination banknotes was stopped in 2018-19.

It has been observed that this denomination is no longer commonly used for transactions; besides,
there is adequate stock of banknotes in other denominations to meet currency requirements.

In view of the above and in pursuance of the ‘Clean Note Policy’ (availability of good quality
banknotes) of the RBI, it has been decided to withdraw the ₹2,000 denomination banknotes from
circulation.

It may be noted that the above move is a “currency withdrawal and not demonetisation” as
happened in 2016. Hence, it's business as usual, and the ₹2,000 denomination banknote is still
legal tender and can be used for all transactions.

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 What should you do?

1. Deposit: You can deposit the `2,000 denomination

banknotes into your account in the usual manner, without
any restrictions and subject to existing KYC norms. You
can deposit in any of the following ways:

At your nearest branch (Senior Citizens can avail of

our doorstep banking facility for deposit).

At a cash deposit machine of your bank.

This facility will be available until September 30, 2023.

2. Exchange: You can exchange your ₹2,000

denomination banknotes in any of the following ways:

At a branch of any bank (up to `20,000 at a time).

You don’t need to have an account with the bank.

At the Regional Offices of the RBI (up to

`20,000 at a time).

This facility will be available from

May 23, 2023 to September 30, 2023.

Why should you not worry?

The `2,000 denominated banknote will continue to be

valid as legal tender. You can still use it for any kind of
transaction.
To ensure a seamless and convenient process for the
general public, a timeframe of more than four months has
been provided for the deposit and/ or exchange.

No matter where you exchange the banknote, it is free.

1800 1080 Connect with us! SPECIAL REPORT | MAY 2023

How can ICICI Bank help you?

Visit your nearest ICICI Bank branch: You can deposit or exchange `2,000
denomination banknotes at any of our branches. The facility for exchange is available to
everyone.

CLICK HERE TO LOCATE THE NEAREST BRANCH

Use our Cash Deposit Machines: You can use our Cash Deposit Machines available at
our select branches and ATMs to deposit ₹2,000 denomination banknotes 24x7.

No charges: ICICI Bank will not levy any charges for handling the `2,000
denomination banknotes until September 30, 2023, for its Individual Savings Account
customers.

Special facilities: We have made special arrangements at our branches for Senior
Citizens and specially-abled individuals to reduce their inconvenience during the
exchange or deposit process.

Reach out to your Relationship Manager: For any guidance or assistance regarding the
new policy, your Relationship Manager is available to help. They are well-equipped
with knowledge and expertise to address any query you may have.

Corporate Salary Counters: You can visit our exclusive counters in your office (if
available) for any queries or assistance you may require.

Call our Customer Care: You can reach us at 1800 1080, and our customer service
representatives will be delighted to assist you.

1800 1080 Connect with us! SPECIAL REPORT | MAY 2023

While ICICI Bank is ready to serve you as you deposit or exchange `2,000 denomination
banknotes, we also have 100+ services available at your doorstep to make banking convenient for
you. Some of the services are:

Fixed Deposit/ Recurring Deposit Opening

Submission of Form 15G/ H
TDS certificate
Updation of PAN, email ID and address
Re-KYC updation
Bank statements
Credit Card/ Loan statements
Request for a Cheque Book
Inquiry of Balances
Reissue of Debit Card
Blocking or unblocking cards
Loan services

We have the following additional services for our valued Senior Citizens at their doorsteps.

1 Banking facility for deposit up to `50,000

2 Cheque pick up facility

3 Delivery of Demand Drafts

4 Submission of a Life Certificate

5 Fixed Deposit and Loan services

1800 1080 Connect with us! SPECIAL REPORT | MAY 2023

 Hope you liked this Special Report of

We would really appreciate your feedback.

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to share your feedback and suggestions.

Thank you

Connect with us for banking solutions:

: Call us on 1800 1080

: WhatsApp ‘Start’ to
86400 86400

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