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RBI says 93% of Rs 2,000 notes worth Rs 3.32 lakh crore back with banks

The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.

Edited By: Shashwat Bhandari @ShashBhandari New Delhi Updated on: September 01, 2023 17:12 IST
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Image Source : FILE PHOTO Representational image

The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.

The bank further informed that now only Rs 0.24 lakh crore of such notes are left with public.

According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023, RBI said in a statement.

"Consequently, Rs 2000 banknotes in circulation as at the close of business on August 31, 2023 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned," it said.

Data collected from major banks indicates that out of the total banknotes in Rs 2000 denomination received back from circulation, about 87 per cent is in the form of deposits and the remaining around 13 per cent has been exchanged into other denomination banknotes.

The Reserve Bank of India had announced the withdrawal of Rs 2000 banknotes from circulation on May 19, 2023.

The total value of Rs 2000 banknotes in circulation, which amounted to Rs 3.62 lakh crore on March 31, 2023, had declined to Rs 3.56 lakh crore as at the close of business on May 19, 2023.

RBI requested the members of the public holding the high-value banknote to utilise the remaining period until September 30, 2023, to deposit and/or exchange them.

With inputs from PTI

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