Over 97 per cent of INR 2,000 banknotes returned: RBI

MUMBAI —The Reserve Bank of India (RBI) said in its currency update on Thursday that 97.76 per cent of the INR 2,000 banknotes in circulation as on May 19, 2023, when their withdrawal was announced, have now been returned.

“The total value of INR 2,000 banknotes in circulation, which was INR 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of INR 2,000 banknotes was announced, has declined to INR 7,961 crore at the close of business on April 30, 2024,” the RBI said.

“The value of these INR 2,000 notes had come down to INR 8,202 crore at the close of business on March 29, 2024,” the RBI had said on April 1 as part of its currency update.

The facility for exchange of the INR 2,000 banknotes has been available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023.

From October 09, 2023, RBI Issue Offices are also accepting INR 2,000 banknotes from individuals/ entities for deposit into their bank accounts.

Further, members of the public are sending INR 2,000 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 INR 2,000 banknotes continue to be legal tender, the RBI said.