98% Rs 2,000 Notes Returned To RBI, Rs 7,261 Crore Still With Public
The facility for the exchange of the Rs 2,000 banknotes has been available at the 19 issue offices of the RBI since May 19, 2023.
Indian rupee currency notes arranged for a photograph. (Photographer: Pralhad Shinde/NDTV Profit)
The Reserve Bank of India said 97.96% of the Rs 2,000 denomination banknotes have returned to the banking system, and Rs 7,261 crore worth of the withdrawn notes are still in the hands of the public. The RBI announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023.
The total value of Rs 2,000 banknotes in circulation when the withdrawal of Rs 2,000 banknotes was announced at the close of business on May 19, 2023, had declined from Rs 3.56 lakh crore to Rs 7,261 crore at the close of business on Aug. 30, 2024, the RBI said.
"Thus, 97.96% of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned," it said in a statement.
The facility for deposit and/or exchange of the Rs 2,000 banknotes was available at all bank branches in the country till Oct. 7, 2023.
The facility for the exchange of the Rs 2,000 banknotes has been available at the 19 issue offices of the Reserve Bank since May 19, 2023.
From Oct. 9, 2023, the RBI issue offices are also accepting Rs 2,000 banknotes from individuals and entities for deposit into their bank accounts.
Further, members of the public are sending Rs 2,000 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 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
The Rs 2,000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 banknotes.
(With Inputs From PTI)
