Mon, Aug 11, 2025
Whatsapp

2.7% of Rs 2,000 notes still in circulation; checkout options for deposit or exchange

Reported by:  PTC News Desk  Edited by:  Jasleen Kaur -- December 01st 2023 12:14 PM
2.7% of Rs 2,000 notes still in circulation; checkout options for deposit or exchange

2.7% of Rs 2,000 notes still in circulation; checkout options for deposit or exchange

New Delhi, December 1: At least 2.7% of the recently withdrawn Rs 2,000 banknotes are still in circulation, even after the expiration of the deadline for deposit or exchange at bank branches about two months ago, says a report. This signifies that 97.26% of the total value of the high-value Rs 2,000 banknotes have been reintegrated into the banking system.

The deadline for public exchange or deposit of the high-value notes at banks had concluded on October 7. Initially valued at Rs 3.56 lakh crore on May 19, 2023, the date when the RBI decided to withdraw the banknotes, the total value has significantly reduced to Rs 9,760 crore by November 30.


Notably, the opportunity for depositing and exchanging Rs 2,000 banknotes remains accessible at the 19 issue offices of the RBI located in various cities across India — Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.

People within the country can utilise India Post services to send Rs 2,000 banknotes from any post office to these RBI issue offices, crediting the amount to their Indian bank accounts.

Lengthy queues have been witnessed outside RBI's regional offices as people travel from distant locations to exchange their banknotes.

Originally, September 30 was set as the deadline to facilitate the exchange and deposit process, allowing ample time for the public. However, following a review, the RBI extended the duration until October 7, 2023.

The introduction of the Rs 2,000 banknote in November 2016 aimed to meet the economy's immediate currency demands after the discontinuation of Rs 500 and Rs 1,000 notes. Once other denominations became adequately available, the printing of Rs 2,000 notes ceased in 2018-19.

- ANI

Top News view more...

Latest News view more...

PTC NETWORK
PTC NETWORK