76% of total Rs.2000 denomination notes in circulation returned to banks: RBI

Most of the Rs.2000 notes have returned through deposits, says RBI

July 4, 2023

RBI says 76% of Rs.2000 notes, worth Rs.2.72 lakh cr, received by banks since May 19

The Reserve Bank of India (RBI) has said that as much as 76 percent of the total number of Rs.2000 notes in circulation have been returned to banks. The central bank said in a statement that most of these notes have returned through deposits.

“According to the data received from the banks, the total value of Rs.2000 bank notes received back from circulation after the announcement on May 19 is Rs.2.72 lakh crore up to June 30, 2023,” it said.

Consequently, Rs.2000 banknotes in circulation as of the close of business on June 30 stood at Rs.0.84 lakh crore.

Now, 76 percent of the Rs.2000 banknotes in circulation, as on May 19, have since been returned, the central bank added in the statement.

Data collected from major banks indicated that out of the total banknotes in Rs.2000 denomination received back from circulation, about 87 percent is in the form of deposits and the remaining around 13 percent has been exchanged into other denomination bank notes.

[With Inputs from IANS]

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