RBI nears closure on Rs.2,000 note withdrawal
The Reserve Bank of India (RBI) on Friday said 98.47 percent of the Rs.2000 banknotes in circulation have been returned. The Central Bank announced the withdrawal of Rs.2,000 denomination banknotes from circulation on May 19, 2023. Rs.2,000 notes was introduced during the 2016 demonetization.
The total value of Rs.2000 banknotes in circulation, which was Rs.3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the currency was announced, has declined to Rs.5,451 crore at the close of business on April 30, 2026. “Thus, 98.47 percent of the Rs.2000 banknotes in circulation as on May 19, 2023, have since been returned,” the Reserve Bank said in a statement.
A facility for exchanging Rs.2,000 banknotes is available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, the RBI issue offices also accept Rs.2,000 banknotes from individuals/ entities for deposit into their bank accounts. Additionally, members of the public are sending Rs.2,000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts, the RBI said in a release. The Central Bank further said that Rs.2,000 banknotes continue to be legal tender.
For all the latest updates, download PGurus App.
