With the circulation of ₹2,000 bank notes withdrawn by the Reserve Bank of India (RBI) declining to ₹0.10 lakh crore at the close of business hours on October 31, more than 97% of the ₹2,000 bank notes have returned, the RBI said on Wednesday.
“The total value of ₹2,000 banknotes in circulation, which amounted to ₹3.56 lakh crore as at the close of business on May 19, 2023, when the withdrawal of ₹2000 bank notes was announced, has declined to ₹0.10 lakh crore as at the close of business on October 31, 2023. Thus, more than 97% of the ₹2,000 bank notes in circulation as on May 19, 2023, has since been returned,” the RBI said.
The facility for deposit and/or exchange of the ₹2,000 banknotes was available at all bank branches in the country initially up to September 30, 2023, which was later extended up to October 7, 2023.
The exchange of the ₹2,000 bank notes was also available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) from May 19, 2023.
“From October 9, 2023, RBI Issue Offices, in addition to exchanging ₹2,000 denomination bank notes across the counters, are also accepting ₹2,000 banknotes from individuals/entities for deposit to their bank accounts,” the RBI said.
As announced earlier, members of the public from within the country can send ₹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 window for deposit and/or exchange the ₹2,000 banknotes continues to be available at the 19 Issue Offices of RBI.
“Members of the public are requested to avail the facility of sending the ₹2000 bank notes through post offices of India Post. This will obviate the need for travel to RBI Offices for deposit / exchange of the ₹2000 bank notes,” the central bank said.
The ₹2000 bank notes continue to be legal tender, the RBI reiterated.
