RBI said on Monday that 97.96 percent of the two thousand rupee notes that were out of circulation have returned to the banking system. Now only notes worth Rs 7,261 crore are left in circulation or with the people. RBI announced the withdrawal of two thousand rupee notes from circulation on 19 May 2023.
At that time two thousand rupee notes worth Rs 3.56 lakh crore were in circulation. RBI had given the facility to deposit or exchange these notes in the branches of all banks till October 7, 2023. At present, people can deposit two thousand rupees notes in their bank accounts through all 19 regional offices of RBI.
The facility to deposit and/or exchange Rs 2000 notes was available in all bank branches of the country till October 7, 2023. Common people send Rs 2000 bank notes from any post office in the country through Indian Post to any RBI issue office to deposit them into their bank accounts.
How many notes have been returned since July
According to the data shared by the Reserve Bank of India on July 1, 2024, Rs 2000 notes worth Rs 7581 crore were left in the market, while even by September 1, this figure cannot come below 7000 crores. In these two months, only Rs 320 crore worth of notes have been returned. Whereas when these notes were banned in the month of May last year, pink notes worth Rs 3.56 lakh crore were present in the market, by December 29, 2023, it had come down to Rs 9,330 crore.
Banned on May 19, 2023
Under the Clean Note Policy, RBI announced the withdrawal of this highest value Rs 2000 note in circulation in the country on May 19, 2023. After this, the central bank was given time from 23 May to 30 September 2023 to return and exchange these notes in local banks and 19 RBI regional offices. However, after this, this deadline was continuously extended.
You can still deposit 2000 notes
Let us tell you that these notes can still be exchanged, although this work will not be done in local banks. The central bank has clarified that apart from going to 19 RBI Offices, which are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram, the public can also deposit these notes through India Post through any post office near them.
These notes were introduced after the first demonetisation
The central bank introduced Rs 2,000 denomination banknotes in November 2016 when the government decided to demonetise the Rs 500 and Rs 1,000 notes in circulation. After this, the purpose of introducing Rs 2,000 banknotes was fulfilled as banknotes of other denominations became available in sufficient quantity. Therefore, the printing of Rs 2,000 banknotes was discontinued in 2018-19, the RBI said.
Where are the notes being exchanged?
The 19 RBI offices that accept/deposit banknotes are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram. Rs 2,000 banknotes were introduced in November 2016 after demonetisation of Rs 1,000 and Rs 500 banknotes.
