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Since withdrawal, 98% of ₹2,000 notes have been returned: RBI
The Reserve Bank of India reported that 98% of ₹2,000 notes have been returned since their withdrawal announcement in May 2023.
The Reserve Bank of India on Tuesday said 98 per cent of the ₹2,000 denomination notes have been returned since its May 2023 move to withdraw the currency notes.
The total value of notes of the denomination has reduced to ₹7,117 crore from the ₹3.56 lakh crore on May 19, 2023, the central bank said.
"98 per cent of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned," the RBI said.,
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On May 19, 2023, the RBI announced a surprise decision to withdraw the ₹2,000 currency notes. The move was prompted on quality concerns and the denomination introduced after the demonetisation of November 2016 fulfilling its purpose.
The central bank said ₹2,000 notes continue to be legal tender and can be exchanged at 19 issue offices of the RBI either physically or sent by post for a credit into bank accounts.
