Notes worth Rs 2,000 were withdrawn from circulation last year and till now 97.5 per cent of the notes have been returned. Central bank RBI revealed today on February 1 that about 97.5 percent of the Rs 2000 notes that were in circulation on May 19, 2023, have returned to the banking system i.e. are no longer in normal transactions.
Notes worth Rs 2,000 were withdrawn from circulation last year and till now 97.5 per cent of the notes have been returned. Central bank RBI revealed today on February 1 that about 97.5 percent of the Rs 2000 notes that were in circulation on May 19, 2023, have returned to the banking system i.e. are no longer in normal transactions. According to RBI, now only these notes worth Rs 8,897 crore are with the common people. Last year, RBI had announced to withdraw bank notes worth Rs 2000 from circulation on May 19, 2023. On May 19, 2023, Rs 3.56 lakh crore notes of ₹2000 denomination were in circulation, which came down to Rs 8,897 crore by January 31, 2024.
Was withdrawn under clean note policy
RBI had announced the withdrawal of ₹2000 note under its clean note policy. Till October 7, 2023, there was facility to deposit or exchange it in all bank branches of the country. After this, now the facility to exchange Rs 2000 bank notes is available only in 19 issue offices of the Reserve Bank. Earlier too, there was facility to exchange notes in these issue offices. If the issue office is far away, then you can go to your nearest post office and send these notes to any issue office of RBI through India Post to get it deposited in your account.
These notes were launched in November 2016
RBI had introduced ₹ 2,000 bank notes in November 2016 to meet the immediate currency needs after the withdrawal of ₹ 500 and ₹ 1,000 bank notes from circulation as legal tender. According to RBI, the purpose of bringing it has been achieved once because now sufficient number of notes of residual value are available in the market. In such a situation, printing of notes worth Rs 2,000 was stopped in 2018-19 itself. Although these notes have been taken out of circulation, they are still legal tender.
