Who are still hoarding Rs 7,261 cr worth Rs 2000 currency notes? RBI issues big update

Mumbai: The Government has received 97.96 percent of Rs 2000 currency notes as on August 30, 2024, the RBI said on Monday while adding that the banknotes continue to be legal tender.

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7261 crore at the close of business on August 30, 2024. Thus, 97.96 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned, the RBI said in a statement.

The facility for deposit and / or exchange of the Rs 2000 banknotes was available at all bank branches in the country up to October 07, 2023.

The facility for exchange of the Rs 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting Rs 2000 banknotes from individuals / entities for deposit into their bank accounts.

Further, members of the public are sending Rs 2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.

The Rs 2000 banknotes continue to be legal tender, the Bank said.