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As much as 97.50 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned, the release said, adding that these notes continue to remain legal tender.
From October 9, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals or entities for deposit into their bank accounts. Individuals from within the country are sending Rs 2,000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts.
People are requested to avail the facility of sending Rs 2,000 banknotes through post offices of India Post, the RBI said, adding that this will obviate the need for travel to RBI offices for deposit or exchange of the currency.
As on May 19, the total value of Rs 2000 banknotes in circulation amounted to Rs 3.56 lakh crore.
According to data gathered from banks, ₹3.32 lakh crore worth of ₹2000 banknotes were returned from circulation up to August 31, 2023. Consequently, the amount of ₹2000 banknotes in circulation by Augusts end was a mere ₹0.24 lakh crore.