RBI Reveals: 93% of Rs 2,000 Notes, Worth Rs 3.32 Lakh Crore, Returned
The Reserve Bank of India (RBI) has reported that as of August 1, the total value of returned Rs 2,000 banknotes amounts to Rs 3.32 lakh crore. The RBI shared, “Based on data provided by banks, the cumulative value of Rs 2,000 denomination banknotes returned from circulation stands at Rs 3.32 lakh crore as of August 31, 2023.”
As a result of this, the total value of Rs 2,000 notes currently in circulation has reduced to Rs 24,000 crore. The RBI specified, “As a consequence, the value of Rs 2,000 denomination banknotes in circulation as of the close of business on August 31, 2023, is Rs 0.24 lakh crore. This means that 93 percent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have now been returned.”
In May, the RBI had previously announced the discontinuation of these high-value notes, permitting exchange or deposit of these notes until September 30, 2023.