New Delhi, July 10 : ₹2,000 denomination banknotes worth ₹5,451 crore are still in circulation, even as the Reserve Bank of India’s (RBI) withdrawal process for the high-value currency notes moves towards completion.
The RBI said that around 98.47 per cent of the ₹2,000 notes that were in circulation when the withdrawal was announced on May 19, 2023, have been returned to the banking system. At the time of the announcement, the total value of these notes stood at ₹3.56 lakh crore.
The central bank clarified that the remaining ₹2,000 banknotes continue to be legal tender and can still be used for transactions. People holding these notes can deposit or exchange them through any of the 19 RBI Issue Offices located across the country.
To make the process easier for citizens, especially those living in remote areas, the RBI said individuals can also send ₹2,000 notes through India Post from any post office to an RBI Issue Office, where the amount will be credited to their bank accounts.
The RBI urged the public not to panic, stating that the withdrawal process is being carried out in a smooth and orderly manner. The latest figures indicate a steady return of the notes to the banking system while ensuring continued public access to currency services.
