Latest News | Rs 2000 Notes Withdrawal: Rs 6,577 Cr Worth Such Notes Still with Public
Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Monday said 98.15 per cent of the 2000 rupee denomination banknotes have been returned to the banking system, and only Rs 6,577 crore worth of such notes are with the public.
Mumbai, Feb 3 (PTI) The Reserve Bank on Monday said 98.15 per cent of the 2000 rupee denomination banknotes have been returned to the banking system, and only Rs 6,577 crore worth of such notes are with the public.
On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation.
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 the currency notes was announced, has declined to Rs 6,577 crore at the close of business on January 31, 2025, the RBI said in a statement.
"Thus, 98.15 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said.
The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank.
From October 9, 2023, the RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts.
Further, members of the public can also send Rs 2000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts.
The Rs 2000 banknotes continue to be legal tender.
The 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
The Rs 2000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1000 and Rs 500 banknotes.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)