Rs 2,000 Notes Worth Rs 9,760 Crore Still in People's possession: RBI

The Reserve Bank of India (RBI) on Friday informed that nearly 97.26 percent of Rs. 2,000 banknotes returned to the banking system, and notes worth 9,760 crores are still in people's possession.

On May 19, RBI announced the withdrawal of Rs 2000 notes from circulation.

"The total value of Rs 2,000 notes in circulation has come down to Rs 3.56 lakh crore at the close of business on May 19, 2023. Thus, 97.26 percent of the high-value currency in circulation was returned to the banking system by November 30, 2023.

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At 19 RBI offices across the country, people can deposit or exchange Rs. 2,000 banknotes. People can send notes of Rs 2,000 from any post office to RBI issuing offices and money will be credited to their account.

Individuals and companies holding such notes are first requested to convert them or deposit them in bank accounts by September 30. Later the deadline was extended till October 7. Both deposit and transfer services at bank branches were suspended on October 7.

From October 8, people have been given the option to exchange currency or deposit the equivalent in their bank accounts at 19 RBI offices.

Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram are the 19 regional offices of RBI.

In November 2016, after the demonetization of Rs 1,000 and Rs 500 notes, Rs 2,000 notes were introduced.

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(With PTI Inputs)