The Reserve Bank of India (RBI) on Monday said Rs 2,000 banknotes continue to be legal tender and that 97.38% of the withdrawn notes have returned to the system.
RBI said that as on December 29, 2023, Rs 2,000 notes worth Rs 9,330 crore are still in circulation as against Rs 3.56 lakh crore on May 19, 2023.
“The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 9,330 crore at the close of business on December 29, 2023. Thus, 97.38% of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” said RBI in a statement.
On May 19, 2023, the RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation.
Public can deposit and/or exchange the Rs 2,000 banknotes at the 19 RBI offices in the country.
“From October 09, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals / entities for deposit into their bank accounts. Further, members of the public from within the country are sending Rs 2,000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts,” said RBI in a statement.
