NEW DELHI: The total value of Rs 2000 banknotes in circulation has been declined to Rs 8470 crore at the close of business on February 29, 2024 after the central bank announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023.
This is a significant decrease from the initial total value of Rs 3.56 lakh crore on May 19, 2023, when the withdrawal was announced.The RBI stated that 97.6 percent of the Rs 2000 banknotes in circulation as of May 19, 2023, have been returned.
The RBI has provided facilities for the exchange and deposit of Rs 2000 banknotes. Since May 19, 2023, individuals and entities can exchange their Rs 2000 banknotes at the 19 Issue Offices of the RBI.
Additionally, from October 09, 2023, RBI Issue Offices are accepting Rs 2000 banknotes for deposit into bank accounts. The public can also send Rs 2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts.
Rs 2000 banknotes continue to be legal tender, as stated by the RBI.
This is a significant decrease from the initial total value of Rs 3.56 lakh crore on May 19, 2023, when the withdrawal was announced.The RBI stated that 97.6 percent of the Rs 2000 banknotes in circulation as of May 19, 2023, have been returned.
The RBI has provided facilities for the exchange and deposit of Rs 2000 banknotes. Since May 19, 2023, individuals and entities can exchange their Rs 2000 banknotes at the 19 Issue Offices of the RBI.
Additionally, from October 09, 2023, RBI Issue Offices are accepting Rs 2000 banknotes for deposit into bank accounts. The public can also send Rs 2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts.
Rs 2000 banknotes continue to be legal tender, as stated by the RBI.