News Karnataka
Wednesday, December 06 2023

2,000 denomination notes worth Rs 3.32 lakh crore received back till Aug 31

2,000 denomination notes worth Rs 3.32 lakh crore received back till Aug 31
Photo Credit : IANS

New Delhi: Bank notes of 2,000 denomination worth Rs 3.32 lakh crore have been received back by banks till August 31, according to data collated by the Reserve Bank of India (RBI).

Consequently, Rs 2,000 banknotes in circulation at the close of business on August 31 stood at Rs 0.24 lakh crore in terms of value.

Thus, 93 per cent of the Rs 2,000 banknotes in circulation, as on May 19, have since been returned, the central bank said.

Data collected from major banks indicates that out of the total banknotes in Rs 2,000 denomination received back from circulation, about 87 per cent of them are in the form of deposits and the remaining around 13 per cent have been exchanged into other denomination banknotes.

The RBI has urged members of the public to utilise the remaining period until September 30 to deposit or exchange the Rs 2,000 banknotes held with them.

On May 19, the government had announced that 2,000 denomination notes would be withdrawn from circulation by September 30 and had urged people to get them deposited or exchanged before the said deadline.

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