Stay updated with breaking news from Clean Note Policy. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Reserve Bank of India (RBI) has returned 97.26% of the 2000 rupee bank notes withdrawn from circulation as of May 19th, bringing the total value of the notes to Rs. 9,760 crores as of November 30th. The RBI emphasized that the highest denomination remains a legal tender. The note was introduced in November 2016 to meet currency requirements after the withdrawal of 500 and 1,000 notes.
SBI said that of the total amount, Rs 14,079 crore were received as exchange and Rs 66,807 crore through deposits. This accounts for 96 percent of the total Rs 2,000 in circulation since May this year.
The Rs 2000 note had been introduced in 2016 in an effort to rapidly remonetise the economy after Prime Minister Narendra Modi announced that the high-denomination Rs 500 and Rs 1000 notes were being withdrawn as part of the fight against black money.
The last date for returning or exchanging the ₹2,000 denomination currency notes is today, the Reserve Bank of India (RBI) said.
Moneycontrol had on September 29 exclusively reported that the RBI is likely to extend the deadline for public for returning Rs 2000 notes to facilitate remaining bank customers deposit or exchange the denomination