NEW DELHI: The Reserve Bank of India (RBI) on Monday said 76% of Rs 2,000 banknotes in circulation as of May 19, 2023, have come back to banks. According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation after the announcement on May 19 is Rs 2.72 lakh crore up to June 30, 2023.
Consequently, Rs 2000 banknotes in circulation at the close of business on June 30 stood at Rs 0.84 lakh crore. “Data collected from major banks indicates that out of the total banknotes in Rs 2000 denomination received back from circulation, about 87% is in the form of deposits and the remaining about 13% has been exchanged into other denomination banknotes,” the central bank said.
“The total value of Rs 2000 banknotes in circulation, which amounted to Rs 3.62 lakh crore on March 31, 2023, had declined to Rs 3.56 lakh crore at the close of business on May 19, 2023,” the RBI statement stated. The central bank requested the public to utilise the next three months to deposit and/or exchange the Rs 2000 banknotes held with them to avoid any rush in the last few days before September 30, 2023.