Online retailer Amazon will no longer be accepting Rs 2,000 notes for cash on Delivery (COD) payments or Cashloads from today, September 19.
"...Starting September 19, 2023, we will not be accepting Rs. 2,000 currency notes for Cash on Delivery (COD) orders or Cashloads. This is in accordance with the directions issued by the Reserve Bank of India on May 19, 2023," Amazon has said in its FAQs on using Rs. 2,000 notes for Cash on Delivery (COD) Payments and Cashloads.
However, Amazon stated that if your order is delivered by a third-party delivery partner, their own restrictions regarding the acceptance of Rs 2,000 currency notes would apply.
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The Reserve Bank of India removed the Rs 2,000 banknotes from circulation on May 19, however, they will still be acknowledged as legal tender. The RBI directed banks to cease issuing Rs 2,000 banknotes immediately.
People will be allowed to deposit Rs 2,000 banknotes into their accounts and/or exchange them for notes of other denominations at any bank branch till September 30, 2023, according to the RBI.
It is to be mentioned here that, following the loss of the legal tender status of all Rs 500 and Rs 1,000 banknotes in use at the time, the introduction of the Rs 2,000 denomination currency in November 2016 served significantly to immediately satisfy the economy's demand for money.
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