After the Reserve Bank of India’s (RBI) decision to withdraw the Rs 2000 denomination banknotes from circulation, around 97.96 per cent of the banknotes have returned to the banking system as of 30 August 2024. As per the data from the apex bank, Rs 7,261 crore worth of the banknotes are still in circulation.
The apex bank decided to withdraw the Rs 2000 denomination banknotes on 19 May 2023, when the total value of such banknotes was Rs 3.56 lakh at the close of business on that date. As per the latest data, the total value of such notes has declined to Rs 7,261 crore on 30 August 2024. The Rs 2000 banknotes continue to be legal tender.
RBI had given the facility to deposit and exchange the Rs 2000 banknotes across the country till 7 October 2023 and the exchange facility has been made available at 19 issue offices of the apex bank since 19 May 2023. Since 9 October 2023, the issue offices of the central bank have been accepting such banknotes from individuals as well as entities to make deposits in their bank accounts.
The apex bank introduced the Rs 2000 denomination banknotes in November 2016 when it demonetised the Rs 500 and Rs 1,000 banknotes. The public has been sending these currency notes through India Post from the country’s post office to RBI’s issue offices. These offices are in New Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad, Belapar, Bhopal, Jammu, Bhubaneswar, Chandigarh, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Nagpur, Patna and Thiruvananthapuram.
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