Rs 2,000 banknotes continue to be legal tender, 97.38% notes returned, says RBI
On May 19, 2023, the RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation
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On May 19, 2023, the RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation
Public and entities holding such notes were initially asked to either exchange or deposit them in bank accounts by September 30. The deadline was later extended to October 7. Deposit and exchange services at bank branches were discontinued on October 7.
About Rs 9,330 crore worth of Rs 2000 notes are yet to be deposited, according to the RBI, 97.38% of Rs 2000 Notes Returned Since May 2023, Rs 9,330 Crore Yet To Be Deposited: RBI
The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹9,330 crore at the close of business on December 29, 2023, RBI said
The central bank had announced withdrawal of Rs 2,000 notes on May 19