Rs 12,000 Crore Of Rs 2,000 Currency Notes Still In Circulation: RBI

Mumbai:

Governor Shaktikanta Das on Friday mentioned Rs 3.43 lakh crore of Rs 2,000 denomination notes have come again to the system up to now, and reminded the general public that they can return the withdrawn notes at 19 RBI places of work from October 8. Addressing the customary post-policy press meet right here, Mr Das mentioned 87 per cent of the notes which have been returned have been deposited into financial institution accounts, whereas the remaining have been exchanged over-the-counter.

At current, over Rs 12,000 crore of notes are nonetheless in circulation, Mr Das mentioned, reiterating that the notes will be returned even after the tip of the prolonged interval.

It may be famous that on Could 19, the RBI stunned all by saying its intent to withdraw the Rs 2,000 note launched in 2016 for fast remonetisation, following Prime Minister Narendra Modi’s announcement to suck out over 88 per cent of the forex in circulation by banning the Rs 500 and Rs 1,000 notes.

The RBI, which had initially given time until September 30, to get the notes deposited or exchanged, prolonged the identical by every week until October 7, on the final date.

Sustaining that the notes proceed to be authorized tender, the RBI additionally introduced a brand new system for getting them deposited or exchanged.

“… thereafter (from October 8) it may be, , deposited in or exchanged within the Reserve Financial institution within the problem places of work of the Reserve Financial institution, which is there in virtually each state capital we’ve a presence. So there are 19 of them,” Mr Das informed reporters on Friday.

He added that the unique goal of withdrawing the notes, which was additionally pushed by the necessity to maintain outdated notes, has been “largely met”.

Mr Das additionally mentioned that the postal division’s companies will be availed in case somebody can’t journey to the RBI places of work. 

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