The Reserve Bank of India (RBI) reveals that 97.26% of Rs 2000 banknotes, withdrawn in May 2023, have returned to the banking system. The total value declined from Rs 3.56 lakh crore in May to Rs 9,760 crore by November 30, 2023.
Initiated under the clean note policy, the withdrawal aimed to manage currency circulation. The facility for deposit and exchange was extended to October 7, 2023.
Since then, RBI Issue Offices also accept Rs 2000 notes for deposit. Introduced in 2016, the printing of Rs 2000 notes ceased in 2018-19, but they remain legal tender.