Rs 2,000 banknotes: 97.82 percent returned; Rs 7,755 crore worth notes still with public

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,755 crore at the close of business on May 31, 2024.

“Thus, 97.82 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” the central bank said in a statement.

The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches in the country till October 7, 2023.

The facility for the exchange of the Rs 2,000 banknotes has been available at the 19 issue offices of the Reserve Bank since May 19, 2023.

From October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts.

Further, members of the public are sending Rs 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 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

The Rs 2000 banknotes were introduced in November 2016, following the demonetization of the then-prevailing Rs 1000 and Rs 500 banknotes.