97.38% of Rs 2000 Notes Returned Since May 2023, Rs 9,330 Crore Yet To Be Deposited: RBI

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The Reserve Bank of India (RBI) on Monday said 97.38 per cent of the Rs 2000 banknotes have been returned to it since May 2023, when the withdrawal of Rs 2000 banknotes was announced. Now, Rs 9,330 crore is yet to be deposited, compared with the Rs 3.56 lakh crore in circulation at the close of business on May 19, 2023.

“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 2000 banknotes was announced, has declined to ₹9,330 crore at the close of business on December 29, 2023. Thus, 97.38 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,” the RBI said in a statement.

The facility for exchange of the Rs 2,000 banknotes is available at the 19 issue offices of the Reserve Bank of India since May 19, 2023.

“The Rs 2000 banknotes continue to be legal tender,” the RBI said.

The central bank had announced the withdrawal of Rs 2000 denomination banknotes from circulation. The facility for deposit and / or exchange of the Rs 2000 banknotes was available at all bank branches in the country upto October 07, 2023.

From October 9, 2023, the RBI Issue Offices are accepting Rs 2000 banknotes from individuals / entities for deposit into their bank accounts.

“Members of the public from within the country are sending 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.,” the RBI said.

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