Rs 2,000 banknotes RBI withdrawal: 97.62 per cent currency returned by Feb 29, Rs 8,470 cr still with public

RBI enterprise information: The Reserve Bank of India (RBI) at this time (March 1) mentioned almost 97.62 per cent of the Rs 2,000 financial institution notes have returned to the banking system, and solely about Rs 8,470 crore value of the withdrawn notes are still with the public. On May 19, 2023 (final 12 months), the RBI introduced the withdrawal of Rs 2,000 denomination financial institution notes from circulation.

“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 2,000 banknotes was announced, has declined to Rs 8,470 crore at the close of business on February 29, 2024,” the RBI mentioned in a press release.

Thus, 97.62 per cent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have since been returned, it added.

“The Rs 2,000 banknotes continue to be legal tender,” the RBI added.

People can deposit, or change Rs 2,000 financial institution notes on the 19 RBI places of work throughout the nation. People also can ship Rs 2,000 financial institution notes by means of India Post from any submit workplace to any of the RBI Issue Offices for credit score to their financial institution accounts in India.

Public and entities holding such notes have been initially requested to both change or deposit them in financial institution accounts by September 30, 2023. The deadline was later prolonged to October 7, 2023. Deposit and change providers at financial institution branches have been discontinued on October 7, 2023. Starting October 8, 2023, people have been supplied with the selection of both exchanging the currency or having the equal sum credited to their financial institution accounts on the 19 places of work of the RBI.

The 19 RBI places of work depositing/exchanging the financial institution notes are in-

1. Ahmedabad
2. Bengaluru
3. Belapur
4. Bhopal
5. Bhubaneswar
6. Chandigarh
7. Chennai
8. Guwahati
9. Hyderabad
10. Jaipur
11. Jammu
12. Kanpur
13. Kolkata
14. Lucknow
15. Mumbai
16. Nagpur
17. New Delhi
18. Patna
19. Thiruvananthapuram

The Rs 2,000 financial institution notes have been launched in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 financial institution notes.

ALSO READ: RBI asks NPCI to assist proceed UPI operations of Paytm App

ALSO READ: Paytm QR, soundbox and EDC to work submit March 15, RBI points FAQs on Paytm funds financial institution