RBI Rs 2,000 notes update currency worth Rs 9,760 crore still not deposited or exchanged

The Reserve Bank of India (RBI) has disclosed that Rs 9,760 crore worth of Rs 2000 denomination banknotes, out of the total value of Rs 3.56 lakh crore in circulation as of May 19, 2023, have not been deposited or exchanged.

With this, 97.26 per cent of the Rs 2,000 banknotes in circulation as of May 19, 2023, have been returned or exchanged.

It is crucial to note that Rs 2,000 banknotes continue to be legal tender despite the withdrawal initiative.

Initially, the facility for deposit and/or exchange of Rs 2,000 banknotes was made available at all bank branches across the country until September 30, 2023. This deadline was subsequently extended to October 07, 2023.

Additionally, from May 19, 2023, the facility for exchanging Rs 2000 banknotes was provided at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices).

As of October 09, 2023, these offices not only facilitate the exchange of Rs 2,000 denomination banknotes across the counters but also accept such banknotes for deposit into individuals’ or entities’ bank accounts.

Published By:

Koustav Das

Published On:

Dec 1, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *