In May 2023, the central bank had announced the withdrawal of Rs 2000 denomination banknotes from circulation.
About Rs 8,202 crore is yet to be deposited as on March 29, 2024, compared with the Rs 3.56 lakh crore in circulation at the close of business on May 19, 2023
The Reserve Bank of India (RBI) on Monday said 97.69 per cent of the Rs 2000 banknotes have been returned to it since May 19, 2023, when the central bank announced to withdraw these currency notes from circulation. Now, Rs 8,202 crore is yet to be deposited as on March 29, 2024, compared with the Rs 3.56 lakh crore in circulation at the close of business on May 19, 2023.
“The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8,202 crore at the close of business on March 29, 2024. Thus, 97.69 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,” the RBI said in a statement.
In May 2023, the central bank had announced the withdrawal of Rs 2000 denomination banknotes from circulation. The facility for deposit and / or exchange of the Rs 2000 banknotes was available at all bank branches in the country up to October 7, 2023.
Now, the facility for exchange of the Rs 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices).
“The Rs 2000 banknotes continue to be legal tender,” the RBI stated on Monday.
From October 9, 2023, RBI Issue Offices are accepting Rs 2000 banknotes from individuals/ entities for deposit into their bank accounts.
“Members of the public are sending Rs 2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts,” the RBI said.
