The Reserve Bank of India (RBI) on Monday said that as much as 76 per cent of the total number of Rs 2,000 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 2,000 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.

1. 87% of Rs 2000 notes is in the form of deposits,

2. And the remaining around 13% has been exchanged into other denomination bank notes.

The Reserve Bank of India has announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30
New Delhi: A man holds Rs 2000 currency notes at a bank in New Delhi, Tuesday, May 23, 2023. The Reserve Bank of India has announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30IANS

Consequently, Rs 2,000 bank notes in circulation as at the close of business on June 30 stood at Rs 0.84 lakh crore.

Now, 76 per cent of the Rs 2,000 banknotes in circulation, as on May 19, have since been returned, the central bank added in the statement.

rupee
Rs 2000 currency noteIANS

Data collected from major banks indicated that out of the total bank notes in Rs 2,000 denomination received back from circulation, about 87 per cent is in the form of deposits and the remaining around 13 per cent has been exchanged into other denomination bank notes.

(With inputs from IANS)

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