As per the information provided by the banks, the total amount of Rs 2,000 banknotes that have been returned from circulation after the May 19 announcement is Rs 2.72 lakh crore until June 30, 2023. Consequently, the remaining value of Rs 2,000 banknotes in circulation by the end of business on June 30 was Rs 0.84 lakh crore. The Reserve Bank of India stated on Monday that 76% of the Rs 2000 banknotes in circulation as of May 19, 2023, have been returned.
The total value of Rs 2,000 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. Data collected from major banks indicates that out of the total banknotes in Rs 2,000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.
Members of the public are requested to utilize the next three months to deposit and/or exchange the Rs 2,000 banknotes held with them to avoid any rush in the last few days before September 30, 2023.
