headline: “RBI’s Revelation on Rs 2,000 Notes: ₹7,961 Crore Yet to Be Returned”
The RBI provides channels for deposit and exchange while guaranteeing the authenticity of ₹2,000 notes.
The Reserve Bank of India (RBI) recently made an announcement regarding the present situation with the ₹2,000 currency notes. It was revealed that despite the decision to phase them out, a startling ₹7,961 crore worth of these notes are still in circulation. Only a small portion of the discontinued ₹2,000 notes remain outstanding, according to the RBI’s announcement, which highlighted that 97.76 percent of them have found their way back into the banking system.
On May 19, 2023, the decision to withdraw the ₹2,000 note was made. At that time, the market value of these notes was a considerable ₹3.56 lakh crore.
that moment. By April 30, 2024, the circulation had dropped significantly to just ₹7,961 crore. This huge decrease highlights the effectiveness of the RBI’s demonetization program. rbi
The RBI confirmed that ₹2,000 notes are still valid in spite of their decreasing quantity. The public is reassured that they can still deposit or exchange these notes at 19 specially designated RBI offices located all over the nation. To ensure a smooth transition for those who are still holding onto their notes, people can also choose to use the Indian Post’s services to deliver their ₹2,000 notes to any RBI office for deposit
demonetization
Remember that the demonetization of the ₹1,000 and ₹500 notes in November 2016 was preceded by the issue of the ₹2,000 note, which represents a considerable
at that moment. When we fast-forward to April 30, 2024, we see that the circulation has dropped dramatically to just ₹7,961 crore. The success of the RBI demonetization program is demonstrated by this notable drop.
The RBI assured the people that they can still deposit or exchange ₹2,000 notes at 19 specially designated RBI offices located throughout the nation, even if the quantity of these notes is decreasing. For those who are still hanging onto their notes, there is also the option to use the Indian Post to mail their ₹2,000 notes to any RBI office for deposit, allowing for a smooth transition.
It is noteworthy to mention that the ₹2,000 note was issued subsequent to the demonetization of the ₹1,000 and ₹500 notes in November 2016, signifying a noteworthy
RBI