The Rs 2,000 notes will remain legal tender. (File)
Mumbai:
The Reserve Bank of India (RBI) on Monday said nearly 97.69 per cent of notes worth Rs 2,000 have returned to the banking system, and only Rs 8,202 crore of the withdrawn notes are still among the public.
On May 19, 2023, the RBI announced the withdrawal of notes worth Rs 2,000 from circulation.
The total value of Rs 2,000 notes in circulation, which stood at Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 notes was announced, has fallen to Rs 8,202 crore at the end of the working day in March. On January 29, 2024, the Reserve Bank of India said in a statement.
“Thus, 97.69 per cent of the Rs 2,000 notes in circulation on May 19, 2023 have been returned since then,” it added.
The Rs 2,000 notes will remain legal tender.
People can deposit and/or exchange Rs 2,000 notes at 19 RBI offices across the country. People can also send Rs 2,000 banknotes via India Post from any Post Office to any of the RBI Issue Offices for credit to their bank accounts in India.
Public and private entities holding such notes were initially asked to exchange or deposit them into bank accounts by September 30, 2023. The deadline was later extended to October 7, 2023. Deposit and exchange services at bank branches were halted on October 7, 2023. .
From October 8, 2023, individuals will have the option to exchange the currency or have the equivalent amount credited to their bank accounts at the RBI’s 19 offices.
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 Rs 2,000 notes were introduced in November 2016, following the demonetisation of the then prevailing Rs 1,000 and Rs 500 notes.
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