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₹2000 notes: 97.87% returned; ₹7,581 crore worth notes still with public

RBI said that the total value of ₹2000 banknotes in circulation was ₹3.56 lakh crore at the close of business on May 19, 2023.

Updated on: Jul 01, 2024 03:50 PM IST
By HT News Desk
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The Reserve Bank of India (RBI) said 97.87 per cent of the ₹2000 denomination banknotes have returned to the banking system. Only ₹7,581 crore worth of the withdrawn notes are still with the public, it said. The central bank announced withdrawal of ₹2000 denomination banknotes from circulation on May 19, 2023. RBI also said that the total value of ₹2000 banknotes in circulation was ₹3.56 lakh crore at the close of business on May 19, 2023.

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RBI announced withdrawal of ₹2000 denomination banknotes from circulation on May 19, 2023.
RBI announced withdrawal of ₹2000 denomination banknotes from circulation on May 19, 2023.

This has declined to ₹7,581 crore at the close of business on June 28, 2024, it said, adding, “Thus, 97.87 per cent of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned.”

Facility for deposit and/or exchange of the ₹2000 banknotes was available at all bank branches in the country till October 7, 2023. For exchange of the ₹2000 banknotes, the facility has been available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, RBI issue offices are also accepting ₹2000 banknotes from individuals and entities for deposit into their bank accounts.

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The ₹2000 banknotes were introduced in November 2016 following demonetisation of ₹1000 and ₹500 banknotes.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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