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| Photo Credit: RAGU R
With the circulation of ₹2,000 financial institution notes withdrawn by the Reserve Bank of India (RBI) declining to ₹0.10 lakh crore on the shut of enterprise hours on October 31, extra than 97% of the ₹2,000 financial institution notes have returned, the RBI mentioned on Wednesday.
“The total value of ₹2,000 banknotes in circulation, which amounted to ₹3.56 lakh crore as at the close of business on May 19, 2023, when the withdrawal of ₹2000 bank notes was announced, has declined to ₹0.10 lakh crore as at the close of business on October 31, 2023. Thus, more than 97% of the ₹2,000 bank notes in circulation as on May 19, 2023, has since been returned,” the RBI mentioned.
The facility for deposit and/or alternate of the ₹2,000 banknotes was obtainable 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 alternate of the ₹2,000 financial institution notes was additionally obtainable on the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) from May 19, 2023.
“From October 9, 2023, RBI Issue Offices, in addition to exchanging ₹2,000 denomination bank notes across the counters, are also accepting ₹2,000 banknotes from individuals/entities for deposit to their bank accounts,” the RBI mentioned.
As introduced earlier, members of the general public from throughout the nation can ship ₹2,000 banknotes by means of India Post from any submit workplace within the nation, to any of the RBI Issue Offices for credit score to their financial institution accounts in India.
The window for deposit and/or alternate the ₹2,000 banknotes continues to be obtainable on the 19 Issue Offices of RBI.
“Members of the public are requested to avail the facility of sending the ₹2000 bank notes through post offices of India Post. This will obviate the need for travel to RBI Offices for deposit / exchange of the ₹2000 bank notes,” the central financial institution mentioned.
The ₹2000 financial institution notes proceed to be authorized tender, the RBI reiterated.
