97.26% of Rs 2000 Banknotes Returned, Circulation Declines To Rs 9,760 Crore, Says RBI.
RBI says Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as on the shut of enterprise on May 19, 2023, has now declined to Rs 9,760 crore
The Reserve Bank of India (RBI) on Friday mentioned 97.26 per cent of the Rs 2000 banknotes have come again. In worth phrases, Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as on the shut of enterprise on May 19, 2023, has now declined to Rs 9,760 crore.
The RBI on May 19, 2023, introduced the withdrawal of Rs 2,000 denomination banknotes from circulation.
“The total value of Rs 2000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 9,760 crore as at the close of business on November 30, 2023. Thus, 97.26 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” the RBI mentioned in an announcement on Friday.
It additionally mentioned that the Rs 2000 banknotes proceed to be authorized tender.
The facility for deposit and / or trade of the Rs 2000 banknotes was accessible in any respect financial institution branches within the nation initially as much as September 30, 2023, which was later prolonged as much as October 7, 2023.
The facility for the trade of the Rs 2000 banknotes was additionally accessible on the 19 situation places of work of the Reserve Bank from May 19, 2023. From October 9, 2023, RBI Issue Offices, along with exchanging Rs 2000 denomination banknotes throughout the counters, are additionally accepting Rs 2000 banknotes from people/ entities for deposit to their financial institution accounts.
“Further, members of the public from within the country can send Rs 2000 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 India,” the RBI mentioned.
