The Central Bank of India, RBI has recently announced, that around 97.87 percent of ₹ 2000 notes have come back to banking system, while with public, only ₹ 7,581 Crore of the above-mentioned notes remains with public.
Earlier on May 19, 2023, the total value of ₹ 2000 notes stood at ₹ 3.56 lakh crore at closing business. But it has now decreased to ₹ 7,581 crore at closing business on June 28, 2024.
Issuing a statement, bank said, ‘Thus, 97.87 per cent of the ₹ 2000 notes in circulation as on May 19, 2023, has since been returned.’
The facility for depositing/exchanging ₹ 2000 banknotes was accessible at every bank branch throughout the country till October 7, 2023.
Since May 19, 2023, the platform for exchanging ₹ 2000 notes was available at RBI’s 19 issue offices.
From October 9, 2023, these issue offices accepted ₹ 2000 notes from both individuals and companies for depositing into their bank accounts.
Moreover, public sent ₹ 2000 notes via India Post from any post office to RBI issue office for transfering to their account.
The places where RBI deposited/exchanged the mentioned notes are Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
In a bid to contain black money and corruption, PM Modi on November 8, 2016, announced demonetization, which resulted in the halt of old Rs 500 and Rs 1,000 notes as legal tenders.
In its place, new Rs, 500 and Rs,2000 currency notes were introduced for use. But after 6 years on May 19, 2023, RBI decided to remove Rs.2000 backnotes from circulation and asked people to exchange these notes by September 30, 2023.