Indian Government pulled up a huge shock on the 8th of November 2016 when it banned Rs. 500 and Rs. 1000 notes overnight. Instead Rs. 2000 Notes were introduced into circulation. Now, last month the GOI announced that Rs. 2000 notes will be no longer acceptable after 30th September 2023. This is being done to ensure a clean note policy. According to a notification by RBI, people can exchange or deposit the 2000 rupees note in banks or use it in circulation till 30th September only.
Now, even though there is plenty of time till September 30th, for many it might be a frustrating experience to get rid of all their 2000 rupees notes by a fixed date. To help such people, the e-commerce portal Amazon India has come up with a solution that will allow you to get your 2000 notes exchanged for Amazon Pay Balance right at your doorstep.
Read on to know more about it.
Amazon Pay Balance in exchange for Rs. 2000 Notes
Amazon has announced that its customers can now get their 2000 notes exchanged for Amazon Pay Balance right at their doorstep. Amazon users can submit their 2000 rupees notes with the help of Amazon Pay’s cash load at the doorstep service. This will allow the users to hand over additional cash or leftover change to the delivery agent and this money will be added to your Amazon Pay Balance which can be used for digital payments later.
The only condition is that this facility will be available only for Amazon’s KYCed consumers. Completing KYC on Amazon is very simple as it can be done from the shopping app itself. It takes 5-10 minutes to get a Video KYC done. A customer can deposit cash up to Rs. 50,000 per month which can include 2000 notes.
Vikas Bansal, Director at Amazon India said, “The facility to top up your Amazon Pay Balance with cash handed to delivery agents at your doorstep is one of our unique services in India available to full KYCed customers. Staying true to our mission, we will continue to provide holistic experiences to our customers by facilitating such simplified solutions and further catalyzing the digital payments revolution in India.”
How to get 2000 notes exchanged for Amazon Pay Balance
- Place an order on Amazon as you normally do but choose the Cash-on-Delivery (COD) option.
- At the time of delivery, tell the delivery agent that you want to deposit cash to your Amazon Pay Balance. It can be additional cash or leftover change from your order amount.
- The delivery agent will add the cash to your Pay Balance. The updated balance will start reflecting in the customer’s Amazon Pay Account shortly after. This Pay Balance can be used for digital payments like paying bills, phone recharges, and shopping. The Amazon UPI ID can also be used to transfer money or send it to anyone they want to.
RBI Governor Shaktikanta Das earlier also mentioned a possible deadline extension but that decision will be taken based on the number of Rs. 2000 notes that come back from circulation till around the deadline time.