Mumbai: The Reserve Bank of India (RBI) on Friday said that, 97.26% of the Rs.2000 banknotes in circulation as on May 19, 2023, has since been returned. At the same time, RBI has also said that Rs.2000 banknotes are continue to be legal tender.
“The total value of ₹2000 banknotes in circulation, which amounted to Rs.3.56 lakh crore as at the close of business on May 19, 2023 when the withdrawal of Rs.2000 banknotes was announced, has declined to Rs.9,760 crore as at the close of business on November 30, 2023. Thus, 97.26% of the Rs.2000 banknotes in circulation as on May 19, 2023, has since been returned” RBI said in a statement.
The Reserve Bank of India (RBI) on 19th May 2023 had announced the withdrawal of Rs.2000 denomination banknotes from circulation. The facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country initially upto September 30, 2023, which was later extended upto October 07, 2023.
The facility for exchange of the Rs.2000 banknotes was also available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) from May 19, 2023. From October 09, 2023, RBI Issue Offices, in addition to exchanging Rs.2000 denomination banknotes across the counters, are also accepting Rs.2000 banknotes from individuals / entities for deposit to their bank accounts. Further, members of the public from within the country can send Rs.2000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts in India.