The RBI said that 97.26% of Rs 2,000 bank notes have been returned to banks, leaving Rs 9,760 crore with the people. The notes remain legal tender.
On Friday, the Reserve Bank of India (RBI) said that roughly 97.26% of Rs 2,000 bank notes have been returned to the banking system, leaving Rs 9,760 crore worth with the public.
The RBI discontinued Rs 2,000 bank notes on May 19.
“The total value of Rs 2,000 bank notes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023 when the withdrawal of Rs 2,000 bank notes was announced, has declined to Rs 9,760 crore as at the close of business on November 30, 2023,” the RBI said in a release.
It said that 97.26% of high-value cash in circulation on May 19, 2023, has been returned to banks.
“The Rs 2,000 bank notes remain legal tender,” RBI said. The 19 RBI offices nationwide accept Rs 2,000 bank notes for deposit or exchange. People can transmit Rs 2,000 bank notes from any post office to any RBI Issue Office for credit to their Indian bank accounts using India Post.
Conclusion
The RBI reported that 97.26% of Rs 2,000 bank notes have been returned to banks, leaving Rs 9,760 crore with the people. The notes’ value dropped from Rs 3.56 lakh crore on May 19, 2023, to Rs 9,760 crore on November 30, 2023. The RBI declared that Rs 2,000 bank notes are legal cash and can be deposited or exchanged at 19 RBI offices nationwide or sent through India Post for bank account credit. The RBI has declared the notes lawful tender.
