MUMBAI, June 3: The Reserve Bank of India (RBI) announced on Monday that 97.82% of the Rs 2000 denomination banknotes have been returned to the banking system, with Rs 7,755 crore worth of these notes still in public hands. The RBI initially declared the withdrawal of Rs 2000 banknotes from circulation on May 19, 2023.
As of May 19, 2023, the total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore. By May 31, 2024, this amount had decreased to Rs 7,755 crore. “Thus, 97.82 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned,” the central bank stated.
Until October 7, 2023, individuals could deposit and/or exchange Rs 2000 banknotes at any bank branch in the country. Since May 19, 2023, this exchange facility has been available at the 19 issue offices of the Reserve Bank.
Starting from October 9, 2023, RBI issue offices began accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts. Additionally, the public can send Rs 2000 banknotes through India Post from any post office within the country to any RBI issue office for credit to their bank accounts.
The 19 RBI offices accepting deposits and exchanges of the banknotes are located 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 initially introduced in November 2016, following the demonetisation of the then-prevailing Rs 1000 and Rs 500 banknotes.
