Image Source : REPRESENTATIONAL PIC Reserve Bank of India
The Reserve Bank of India (RBI) on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system. The Central Bank cited only Rs 10,000 crore worth of such notes are still with the public.
The RBI in a statement said, “The total value of Rs 2,000 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 2,000 banknotes was announced, has declined to Rs 0.10 lakh crore as at the close of business on October 31, 2023.”
Thus, RBI added, more than 97 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, have since been returned.
The public can deposit and/or exchange the Rs 2,000 banknotes at the 19 RBI offices in the country.
“Members of the public are requested to avail the facility of sending the ₹2000 banknotes through post offices of India Post.
This will obviate the need for travel to RBI offices for deposit/exchange of the ₹2000 banknotes,” the central bank said.
Meanwhile, long queues are being witnessed during working hours at the RBI offices for exchange/deposit of Rs 2,000 notes.
(With PTI inputs)
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