GG News Bureau
New Delhi, 1st Dec. The Reserve Bank of India (RBI) stated on Friday that almost 97.26% of the Rs 2,000 bank notes have been returned to the banking system, leaving only about Rs 9,760 crore worth of notes still in circulation.
On May 19, the RBI declared the withdrawal of Rs 2,000 denomination bank notes. The total value of these bank notes in circulation was Rs 3.56 lakh crore on May 19, 2023, but it has now decreased to Rs 9,760 crore as of November 30, 2023. This means that 97.26% of the high-value currency has been returned to the banking system.
The RBI clarified that the Rs 2,000 bank notes are still considered legal tender. Individuals can deposit or exchange these notes at any of the 19 RBI offices across the country. They can also send the notes through India Post to any RBI Issue Office for credit to their bank accounts.
Initially, the deadline for exchanging or depositing the notes was September 30, but it was later extended to October 7.
Currently, there are queues at the RBI offices during working hours for the exchange or deposit of Rs 2,000 notes.
The 19 RBI offices that accept these notes 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 2,000 bank notes were introduced in November 2016 after the demonetization of the Rs 1,000 and Rs 500 bank notes.
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