93% of Rs2k notes returned to banks
The Reserve Bank of India (RBI) on Friday said that as much as 93 per cent of Rs2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks.
image for illustrative purpose
Mumbai: The Reserve Bank of India (RBI) on Friday said that as much as 93 per cent of Rs2000 currency notes that were in circulation on May 19 -- the day when the currency was withdrawn from circulation -- have been returned to banks.
According to the data received from the banks, the total value of Rs2000 banknotes received back from circulation is Rs3.32 lakh crore up to August 31, 2023, it said in a statement. “Consequently, Rs2000 banknotes in circulation as at the close of business on August 31, 2023 stood at Rs0.24 lakh crore. Thus, 93 per cent of the Rs2000 banknotes in circulation as on May 19, 2023, have since been returned,” it said.
About 87 per cent is in the form of deposits and the remaining around 13 per cent has been exchanged.
