NEW DELHI: The cash with the public has declined by nearly Rs 83,242 crore as of June 2, according to the Reserve Bank of India, mainly driven by the withdrawal of Rs 2,000. The currency with the public reached Rs 32.88 lakh crore as of June 2, according to the latest data released by the RBI.
After the RBI’s announcement to withdraw Rs 2000 notes from circulation, people are coming to banks to deposit or exchange the currency. Banks have started accepting Rs 2,000 notes for deposits and exchange from May 23.
As per banks, most people are opting to deposit these notes. About 50% of the total Rs 2,000 notes, valuing Rs 1.8 lakh crore, have returned to the banks and about 85 per cent of them are coming back as deposits into the bank accounts, said RBI governor on June 8. As of March 31, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation.