File image used for representational purposes only | Photo credit: R. Ragu
The Reserve Bank of India (RBI) on Monday (November 4, 2024) said that 98.04% of ₹2,000 notes have been returned to the banking system, and such notes worth only ₹6,970 crore are still among the public.
On May 19, 2023, the RBI announced the withdrawal of notes worth ₹2,000 from circulation.
The total value of ₹2,000 notes in circulation stood at ₹3.56 lakh crore at the close of trade on May 19, 2023. The value has fallen to ₹6,970 crore at the close of trade on October 31, 2024, it said RBI.
“Thus, 98.04% of the ₹2,000 notes in circulation on May 19, 2023 have since been returned,” it said in a statement.
The facility to deposit and/or exchange the ₹2,000 notes was available at all bank branches till October 7, 2023. However, this facility is still available at the Reserve Bank’s 19 issuing offices.
From October 9, 2023, the RBI issuing offices will also accept ₹2,000 banknotes from individuals and entities for deposit into their bank accounts.
Further, members of the public can also send ₹2,000 banknotes via India Post from any post office in the country to any of the RBI issuing offices for credit to their bank accounts.
The 19 RBI offices that deposit/exchange the notes are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
The ₹2000 notes were introduced in November 2016, following the demonetisation of the then prevailing ₹1000 and ₹500 notes.
Published – Nov 4, 2024 7:05 PM IST
