Mumbai, May 27: The number of bank notes of Rs 2,000 denomination has declined over the years to touch 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year, according to the Reserve Bank of India's annual report.
Notably, the Currency in Circulation (CiC) includes banknotes and coins. Currently, the Reserve Bank of India (RBI) issues banknotes in denominations of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. Coins in circulation comprise 50 paise and Re 1, Rs 2, Rs 5, Rs 10 and Rs 20 denominations.
The report further says that the total number of currency notes of all denominations in circulation stood at 13,053 crore as of March this year, up from 12,437 crore from the year-ago period.
At the end of March 2020, the number of Rs 2000 denomination notes in circulation stood at 274 crore, accounting for 2.4 per cent of the total number of currency notes in circulation. The count declined to 245 crore or 2 per cent of the total bank notes in circulation as of March 2021 and further fell to 214 crore or 1.6 per cent at the end of last fiscal year.
According to the RBI annual report, in value terms also, Rs 2,000 denomination notes dipped from 22.6 per cent of the total value of currency notes in circulation to 17.3 per cent at the end of March 2021 and further to 13.8 per cent at the end of March 2022.
The Rs 500 denomination notes accounted for 31.1 per cent share at the end of March 2021 and 25.4 per cent as of March 2020. In value terms, these notes rose from 60.8 per cent to 73.3 per cent from March 2020 to March 2022. The total value of currency notes in circulation of all denominations rose to Rs 31.05 lakh crore at the end of March this year from Rs 28.27 lakh crore at the end of March 2021.
-PTC News with inputs from agencies