The RBI said in its currency update today that 97.69% of the ₹2000 banknotes in circulation have now been returned.

“The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹8,202 crore at the close of business on Mar 29, 2024,” the RBI said.  

The facility for the exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 since May 19, 2023. From Oct 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals/entities for deposit into their bank accounts. Further, members of the public are sending ₹2000 banknotes through India Post from any post office within the country to any of the RBI Issue Offices for credit to their bank accounts.

The ₹2000 banknotes continue to be legal tender, the RBI said.

The RBI announced on Mar 28 that the facility for the exchange and deposit of ₹2000 banknotes will not be available today, Apr 1, 2024, at the central bank’s 19 Issue Offices due to operations associated with the annual closing of accounts.  

However, the facility will become operational again on Apr 2, the central bank had said.

(Source: IANS)

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