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Even as the deadline to exchange or deposit Rs 2,000 banknotes with banks is very near, reports suggest that a huge number of the highest denomination currency notes have not made their way to the banks. - Rs 2000 Notes Worth Billions Still In Circulation, But Why? Explained Inside
The online retailer said that if the product is delivered through a third-party courier partner, their own policies around the acceptance of Rs 2,000 currency notes will apply.
Bank notes of 2,000 denomination worth Rs 3.32 lakh crore have been received back by banks till August 31, according to data collated by the Reserve Bank of India (RBI).
The Reserve Bank on Friday said that as much as 93 per cent of Rs 2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks.
"Data collected from major banks indicate that out of the total banknotes in Rs 2,000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes," the Reserve Bank of India (RBI) said in a statement Friday.