Amazon will not be accepting Rs.2,000 notes from September 19, 2023.
E-commerce giant Amazon will stop accepting Rs.2,000 banknotes on cash on delivery services from September 19. The update comes at a time when the deadline to exchange or deposit the Rs.2,000 note is inching closer.
The facility to exchange or deposit Rs.2,000 notes shall be available to the common public up to September 30.
“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," the e-commerce giant said in its FAQs section on Rs.2,000 notes.
However, the notes may be accepted as a valid payment method for cash on deliveries if an order is delivered through a third-party courier partner.
In May, the Reserve Bank of India announced the discontinuation of Rs.2,000 banknotes, with a deadline to exchange or deposit the notes by September 30. The Rs.2,000 currency notes came into circulation after Prime Minister Narendra Modi scrapped high-value Rs.1,000 and Rs.500 notes overnight in November 2016.
On September 1, RBI shared that as much as 93 per cent of Rs.2000 currency notes in circulation on May 19 had already been returned to the banks.
The central bank, in a statement, said the total value of Rs.2000 banknotes received back from circulation is Rs.3.32 lakh crore up to August 31.
The current deadline of September may be pushed further if required, but even if anyone has a Rs. 2,000 note after the current deadline, it shall remain a valid tender.
Data from various banks suggested that of the total banknotes in Rs.2000 denomination received back from circulation, about 87 per cent is in the form of deposits while the remaining 13 per cent has been exchanged into other denomination banknotes.