Mumbai: The Reserve Bank of India (RBI) disclosed on Friday that Rs 9,760 crore worth of Rs 2,000 banknotes has been returned, constituting 97.26% of the currency in circulation as of May 19, 2023. The total value of Rs 2,000 banknotes in circulation was Rs 3.56 lakh crore when the withdrawal was announced.
The RBI reiterated that Rs 2,000 banknotes remain legal tender. In May, the central bank had directed the withdrawal of Rs 2,000 currency notes as part of its ‘Clean Note Policy,’ advising banks to cease issuing them immediately.
Initially set until September 30, the facility for deposit and exchange of these notes was extended to October 7. From October 9, 2023, RBI Issue Offices started accepting Rs 2,000 banknotes for deposit into individuals’ bank accounts, in addition to exchanges.
The RBI also informed the public that Rs 2,000 banknotes could be sent through India Post to any RBI Issue Office for credit to bank accounts within the country.
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