97.62% of Rs 2,000 notes returned, Rs 8,470 cr yet to come back

The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 8,470 crore at the close of business on February 29, 2024, the RBI said in a release.

As of February 1, the total value of Rs 2,000 bank notes in circulation stood at Rs 8,897 crore, the RBI had said last month. (Representational image/File)

The Reserve Bank of India (RBI) on Friday said Rs 8,470 crore of the Rs 2,000 bank notes, which were withdrawn from circulation from May last year, are yet to be returned to the banking system.

The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, has declined to Rs 8,470 crore at the close of business on February 29, 2024, the RBI said in a release.

As much as 97.62 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned, the central bank said, adding that these notes continue to remain legal tender.

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As of February 1, the total value of Rs 2,000 bank notes in circulation stood at Rs 8,897 crore, the RBI had said last month.

From October 9, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals or entities for deposit into their bank accounts. Individuals from within the country are sending Rs 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.

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