In May 2023, the central financial institution had introduced the withdrawal of Rs 2000 denomination banknotes from circulation.
About Rs 8,202 crore is but to be deposited as on March 29, 2024, in contrast with the Rs 3.56 lakh crore in circulation on the shut of enterprise on May 19, 2023
The Reserve Bank of India (RBI) on Monday stated 97.69 per cent of the Rs 2000 banknotes have been returned to it since May 19, 2023, when the central financial institution introduced to withdraw these forex notes from circulation. Now, Rs 8,202 crore is but to be deposited as on March 29, 2024, in contrast with the Rs 3.56 lakh crore in circulation on the shut of enterprise 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 stated in a press release.
In May 2023, the central financial institution had introduced the withdrawal of Rs 2000 denomination banknotes from circulation. The facility for deposit and / or alternate of the Rs 2000 banknotes was accessible in any respect financial institution branches within the nation as much as October 7, 2023.
Now, the power for alternate of the Rs 2000 banknotes is accessible on the 19 Issue Offices of the Reserve Bank (RBI Issue Offices).
“The Rs 2000 banknotes continue to be legal tender,” the RBI said on Monday.
From October 9, 2023, RBI Issue Offices are accepting Rs 2000 banknotes from people/ entities for deposit into their financial institution 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 stated.
