Over 97% of Rs 2,000 banknotes have been returned: RBI

Mumbai, Dec 1: The total value of Rs 2,000 banknotes in circulation, has declined to Rs 9,760 crore at the close of business on November 30, 2023, the Reserve Bank of India (RBI) announced on Friday.

Thus, 97.26 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, have since been returned.

The total value of Rs 2,000 banknotes when the withdrawal was announced amounted to Rs 3.56 lakh crore.

The facility for deposit or exchange of the Rs 2,000 banknotes was available at all bank branches in the country initially up to September 30, which was later extended up to October 7.

The facility for exchange of the Rs 2,000 banknotes was also available at the 19 Issue Offices of the RBI.

In addition to exchanging the Rs 2,000 denomination banknotes across the counters, RBI offices are also accepting Rs 2,000 banknotes from individuals/ entities for deposit to their bank accounts.

Members of the public from within the country can also send Rs 2,000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts in India.

The Rs 2,000 banknotes continue to be legal tender.