97.38% of ₹2,000 currency notes back in banks, says RBI
₹2,000 banknotes in circulation, the Reserve Bank of India (RBI) said on Monday. The total value of ₹2,000 banknotes remaining in circulation as of December 29, 2023, stood at ₹9,330 crore, the apex bank said. The central bank said ₹2,000 banknotes will continue to be legal tender.
The regulator announced the withdrawal of these notes on May 19. According to the banking regulator, 97.38% of the ₹2,000 banknotes that were circulated in the economy till May 19, 2023, have been returned. At the time of the announcement of the withdrawal of the banknotes, the total value of ₹2,000 banknotes in circulation was ₹3.56 lakh crore.
Initially, banks provided the opportunity to deposit and/or exchange ₹2000 banknotes up to September 30, 2023. However, it was extended to October 7, 2023. The RBI said the facility for the exchange of the ₹2000 banknotes is still available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023.
From October 09, 2023, RBI Issue Offices are also accepting ₹2,000 banknotes from individuals or entities for deposit into their bank accounts. The banking regulator further said people from within the country can send ₹2,000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts. In May this year, the RBI said it had decided to withdraw ₹2,000 currency notes from circulation and advised banks not to issue ₹2,000 notes with immediate effect.
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