RBI Reports: 97.96% of ₹2000 Notes Recovered Post Withdrawal

The Reserve Bank of India (RBI) announced the return of 97.96% of the Rs 2000 denomination banknotes to the banking system, leaving only Rs 7,261 crore worth with the public. The banknotes were withdrawn from circulation on May 19, 2023, and deposit/exchange was facilitated through bank branches and RBI offices.

The Reserve Bank of India (RBI) confirmed on Monday that 97.96% of the Rs 2000 denomination banknotes have been returned to the banking system. As of now, only Rs 7,261 crore worth of these notes remain with the public.

The withdrawal of the Rs 2000 denomination banknotes was first announced on May 19, 2023. At the time, the total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore. This value has now plummeted to Rs 7,261 crore as of August 30, 2024.

The RBI facilitated the deposit and exchange of Rs 2000 notes at bank branches across the country until October 7, 2023. The notes can also be deposited or exchanged at 19 RBI issue offices or sent via India Post to these offices for credit to bank accounts.

(With inputs from agencies.)