Starting September 19, Amazon will no longer accept Rs 2000 notes for Cash on Delivery (COD) payments and cash loads. This move comes as the e-commerce giant adjusts its payment policies.
Exceptions Apply for Third-Party Courier Deliveries
However, if your order is delivered by a third party through a courier partner, they will still accept Rs 2000 notes upon delivery.
RBI’s Decision to Phase Out Rs 2000 Notes
The Reserve Bank of India (RBI) had previously announced the phasing out of the Rs 2000 note.
People were given until the end of September to deposit or exchange these notes at banks. Failure to do so by the deadline could result in losing their value.
Exchange Process Underway
Currently, the exchange and deposit process for Rs 2000 notes is ongoing, with people visiting banks to complete the transactions.
Government’s Update in Parliament
The RBI reported that 50% of the Rs 2000 notes in circulation were returned to banks within 20 days of the withdrawal announcement.
Union Minister of State for Finance Pankaj Choudhary informed the Rajya Sabha on July 25 that Indian banks received Rs 2.72 lakh crore worth of 2000 rupee notes between May 19 (the withdrawal announcement) and June 30.
According to the RBI, 76% of the Rs 2000 notes in circulation have either been deposited in banks or exchanged.
