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Clean Note Policy represents a concerted effort to combat Naira abuse and mishandling, compromising the physical integrity of banknotes and

India Business News: RBI disclosed the Rs 2000 notes' decline to 8,202 crore by March 29, 2024, after the 2023 withdrawal under the Clean Note Policy. Exchange facilities

Over 97% of India's 2,000-rupee currency notes, withdrawn in May 2023, have been returned. The total value of banknotes in circulation reduced to 8,470 crore rupees. The return rate is modest compared to the previous report. The 2,000-rupee note remains legally valid tender.

The Reserve Bank of India (RBI) has yet to receive ₹2000 banknotes worth ₹8,897 crore, according to the latest update as of January 31, 2024. The RBI had previously announced the withdrawal of the ₹2000 denomination banknotes from circulation, and the status of this withdrawal is periodically updated. The facility for deposit and exchange of these banknotes is available at RBI Issue Offices, with a significant portion already returned.

The penalties imposed by the RBI are in line with its Clean Note Policy, which requires immediate penalty levying upon the detection of a shortage in soiled note remittances or chest balances, regardless of the number of pieces detected. This penalty serves as a reminder to banks to ensure the proper handling and remittance of soiled notes. The RBI's strict enforcement of the Clean Note Policy aims to maintain the integrity of currency circulation in the country.