Of the total 2000 rupee bank notes that were withdrawn from circulation as on 19th May this year, 97.26% have been returned, said the Reserve Bank Of India (RBI).
The total value of Rs. 2000 bank notes in circulation which amounted to Rs. 3.56 lakh crore on 19th May this year have reduced to Rs. 9,760 crores as of 30th November.
The RBI emphasised that the 2000 rupee note, the highest denomination, continues to be a legal tender.
The central bank had allowed the deposit and exchange of these notes at bank branches up till 30th September, but extended the deadline by a week up to 7th October 2023. The facility for exchange of the 2000 rupee note was also available at the 19 issue offices of RBI
The 2000 rupee note had been introduced in November 2016 to meet currency requirements after the withdrawal of 500 and 1,000 notes at that time. The printing of 2000 rupee note was stopped in 2018-19, after adequate stock of notes of other denominations were made available.
With the RBI having observed that the Rs 2000 notes were not widely used for transactions and in pursuance of its ‘Clean Note Policy’, the central bank decided to withdraw the notes from circulation.
