The total value of ₹2,000 banknotes in circulation, has declined to ₹9,760 crore at the close of business on Nov 30, 2023, the Reserve Bank of India (RBI) announced today.  

Thus, 97.26% of the ₹2,000 banknotes in circulation as on May 19, 2023, have since been returned.

The total value of ₹2,000 banknotes when the withdrawal was announced amounted to ₹3.56 lakh crore.

The facility for deposit or exchange of the ₹2,000 banknotes was available at all bank branches in the country initially up to September 30, which was later extended up to Oct 7.

The facility for exchange of the ₹2,000 banknotes was also available at the 19 Issue Offices of the RBI.

In addition to exchanging the ₹2,000 denomination banknotes across the counters, RBI offices are also accepting ₹2,000 banknotes from individuals/entities for deposit to their bank accounts.

Members of the public from within the country can also send ₹2,000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts in India.

RBI had declared the termination of the circulation of the ₹2,000 notes on May 19, 2023. The ₹2,000 banknotes continue to be legal tender. 

(Source: IANS)

-Edited for style

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