97.82 percent of 2000 notes returned to banks, notes worth Rs 7,755 crore still with people

The Reserve Bank of India (RBI) said on Monday that 97.82 percent of the notes worth Rs 2000 have returned to the banks. Only Rs 7,755 crore worth of notes withdrawn from circulation are still with the people. The RBI announced the withdrawal of Rs 2000 bank notes from circulation on May 19, 2023.

The total value of Rs 2000 banknotes in circulation on May 19, 2023, was Rs 3.56 lakh crore at the close of business. It fell to Rs 7,755 crore at the close of business on May 31, 2024. According to the central bank, "Thus, 97.82 percent of the Rs 2000 banknotes in circulation as of May 19, 2023, have returned to the banking system."

Until October 7, 2023, all bank branches in the country allowed you to deposit and/or exchange Rs 2000 banknotes. From May 19, 2023, the facility for exchanging Rs 2000 banknotes will be available in the Reserve Bank's 19 issuing offices.

RBI issue offices are also accepting Rs 2000 notes from individuals and institutions for depositing them in their bank accounts from October 9, 2023. Apart from this, people are sending Rs 2000 banknotes through Indian Post from any post office in the country to any issuing office of RBI to deposit them in their bank accounts.

The RBI has 19 offices for depositing and exchanging banknotes in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. It is worth noting that in November 2016, Rs 2000 banknotes were issued following the withdrawal of Rs 1000 and Rs 500 banknotes from circulation at the time.