98.08% of ₹2000 Notes Returned; ₹6,839 Crore Still in Circulation, Says RBI
The Reserve Bank of India (RBI) has revealed that 98.08% of ₹2,000 banknotes withdrawn from circulation have been returned, leaving just ₹6,839 crore still in circulation. Despite the withdrawal, these notes remain legal tender, with continued options for exchange and deposit.
98.08% of ₹2,000 notes returned, with ₹6,839 crore still in circulation. RBI reveals progress on the withdrawal process and exchange facilities.
Here’s a closer look at the RBI’s latest update on the ₹2,000 note.
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- The Reserve Bank of India (RBI) announced on December 3, 2024, that 98.08% of ₹2,000 denomination banknotes, which were in circulation when their withdrawal was announced on May 19, 2023, have been returned.
- As of November 29, 2024, the total value of ₹2,000 notes still in circulation stands at ₹6,839 crore, down from ₹3.56 lakh crore on May 19, 2023, when the withdrawal decision was made.
- While the ₹2,000 notes are no longer being circulated, they remain legal tender, meaning they continue to be accepted for transactions.
- The RBI provided a facility for depositing or exchanging ₹2,000 notes at all bank branches across the country until October 7, 2023.
- From October 9, 2023, individuals and entities can exchange ₹2,000 notes at any of the RBI Issue Offices, where they can also deposit these notes into their bank accounts.
- Additionally, the public has been able to send ₹2,000 notes via India Post from any post office in the country to the RBI Issue Offices for deposit into their accounts.
- The Reserve Bank of India (RBI) announced on December 3, 2024, that 98.08% of ₹2,000 denomination banknotes, which were in circulation when their withdrawal was announced on May 19, 2023, have been returned.
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With 98.08% of ₹2,000 notes returned and only ₹6,839 crore remaining in circulation, the RBI’s withdrawal process is nearing completion. While the notes are no longer circulating, they continue to be legal tender, offering ongoing opportunities for exchange and deposit. The final phase of this transition signals a significant step in India’s currency management.
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