93% Of Rs 2,000 Notes In Circulation Have Been Returned To Banks: RBI

Mumbai:

The Reserve Financial institution on Friday mentioned that as a lot as 93 per cent of Rs 2000 foreign money notes that have been in circulation on Might 19 — the day when the foreign money was withdrawn from circulation — have been returned to banks.

In response to the info acquired from the banks, the overall worth of Rs 2000 banknotes acquired again from circulation is Rs 3.32 lakh crore as much as August 31, 2023, it mentioned in an announcement.

“Consequently, Rs 2000 banknotes in circulation as on the shut of enterprise on August 31, 2023 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2000 banknotes in circulation as on Might 19, 2023, have since been returned,” it mentioned.

Knowledge collected from main banks signifies that out of the overall banknotes in Rs 2000 denomination acquired again from circulation, about 87 per cent is within the type of deposits and the remaining round 13 per cent has been exchanged into different denomination banknotes.

The Reserve Financial institution of India had introduced the withdrawal of Rs 2000 banknotes from circulation on Might 19, 2023..

The whole worth 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 on the shut of enterprise on Might 19, 2023.

RBI requested the members of the general public holding the high-value banknote to utilise the remaining interval till September 30, 2023, to deposit and/or trade them.

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