RS 2,000 BANKNOTES: PUBLIC STILL HOLDS RS 7,409 CRORE WITHDRAWN NOTES, SAYS RBI

The Reserve Bank of India (RBI) announced on Thursday that 97.92 per cent of the Rs 2,000 denomination banknotes have been returned to the banking system. However, the public still holds Rs 7,409 crore worth of these withdrawn notes. On May 19, 2023, the RBI declared the withdrawal of Rs 2,000 banknotes from circulation. At that time, the total value of these notes in circulation was Rs 3.56 lakh crore. By the end of business on July 31, 2024, this amount had dropped to Rs 7,409 crore.

"Thus, 97.92 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, have since been returned," the central bank stated.

The facility for depositing or exchanging the Rs 2,000 banknotes was available at all bank branches across the country until October 7, 2023. Since May 19, 2023, the exchange of these notes has also been possible at the 19 issue offices of the Reserve Bank.

From October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts.

Further, members of the public are sending 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 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.

(PTI)

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2024-08-01T15:27:43Z dg43tfdfdgfd