97.38% of Rs 2,000 notes returned, Rs 9,330 crore yet to come back

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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The facility for exchange of the Rs 2,000 banknotes is available at the 19 Issue Offices of the Reserve Bank. (Representational Image)

The Reserve Bank of India (RBI) on Monday said Rs 9,330 crore of Rs 2,000 bank notes, which were withdrawn from circulation from May last year, are yet to be returned to the banking system.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 9,330 crore at the close of business on December 29, 2023, the RBI said in a release.

“…97.38 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” the release said, adding that these notes continue to remain legal tender.

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As on November 30, 2023, the total value of the Rs 2,000 bank notes in circulation stood at Rs 9,760 crore, the RBI had said last month.

The facility for exchange of the Rs 2,000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices). These offices are situated in major cities including in Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Mumbai, and New Delhi.

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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