No bank queues! Now deposit Rs 2,000 notes at your doorstep, check process, other details here

With the new Cash Load feature, consumers can now deposit their Rs 2000 notes at their doorstep rather than having to wait in queue at the bank. This option is hassle-free since it enables customers to deposit money into their Amazon Pay balance account quickly and easily in a matter of minutes.

A user may submit cash deposits totaling Rs 50,000 every month, including the Rs 2000 notes, according to a report from India Today. When money is placed into an Amazon Pay balance account, it may be used for a variety of things, including online shopping, paying with a barcode at retail stores, and Amazon e-commerce. The article also says that the money can be sent to other bank accounts and even to user bank accounts.

What is the process?

You may easily deposit the required amount of cash, including the two 2,000 note denominations, by giving it to the delivery partner during the shipment of your next purchase. According to the article from India Today, an equivalent amount is immediately placed into your Amazon Pay balance account.

In accordance with the RBI's directives for eliminating the largest value currency of India, the exchange and deposit of Rs. 2000 notes have started at banks. Customers are advised by the RBI to either swap their 2000 notes or make deposits in exchange for which the nation's central bank has provided a four-month deadline.

A final decision about the fate of the 2,000-note denomination would be made closer to the September 30 deadline for deposit or exchange, according to RBI Governor Shaktikanta Das. It's not yet clear if these notes will continue to be accepted as legal money after that time. The number of Rs 2,000 note returns to the financial system would be taken into account by the RBI while making its decision.

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