RBI Reports 97.26% Return of ₹2,000 Notes, Only ₹9,760 Crore in Circulation Now

New Delhi: The Reserve Bank of India (RBI) revealed on Friday that nearly 97.26% of the Rs 2,000 banknotes have been returned to the banking system, leaving only about Rs 9,760 crore in public circulation.

As of May 19, the RBI had declared the withdrawal of the Rs 2,000 denomination bank notes. The total value of these notes in circulation, which stood at Rs 3.56 lakh crore on May 19, 2023, has now reduced to Rs 9,760 crore as of November 30, 2023.

The RBI emphasized that the Rs 2,000 banknotes remain legal tender. Individuals can deposit or exchange these notes at any of the 19 RBI offices nationwide. Additionally, they have the option to send Rs 2,000 bank notes through India Post to any RBI Issue Office for crediting to their bank accounts.

Originally, the deadline for exchanging or depositing these notes was September 30, later extended to October 7. Deposit and exchange services at bank branches were discontinued on October 7. Since October 8, individuals can choose between exchanging the currency or having the equivalent sum credited to their bank accounts at the 19 RBI offices.

Despite the discontinuation of services at bank branches, queues are observed during working hours at RBI offices for the exchange/deposit of Rs 2,000 notes. The 19 RBI offices facilitating this service are located in cities such as Ahmedabad, Bengaluru, Mumbai, New Delhi, and others.