₹2,000 Banknotes worth Rs 5,451 Cr still in circulation

RBI says notes remain legal tender

New Delhi, July 9: The Reserve Bank of India (RBI) has announced that ₹2,000 denomination banknotes worth ₹5,451 crore are still in circulation, marking a significant decline from ₹3.56 lakh crore when the withdrawal of the high-value currency notes was announced on May 19, 2023.Executive Branch

According to the RBI, nearly 98.47 percent of the ₹2,000 banknotes that were in circulation at the time of the withdrawal announcement have now been returned to the banking system. The central bank said the remaining notes continue to circulate in limited numbers.

The RBI clarified that ₹2,000 banknotes continue to remain legal tender, and members of the public can still deposit or exchange them through the designated 19 RBI Issue Offices across the country.

The central bank further stated that individuals can also send ₹2,000 banknotes through India Post from any post office to an RBI Issue Office for credit to their bank accounts, making the process accessible even for people residing in remote areas.

The RBI reiterated that while the withdrawal process is nearing completion, citizens holding ₹2,000 banknotes need not panic, as the notes remain valid for transactions and can still be deposited or exchanged through the prescribed channels.

The latest update reflects the RBI’s continued efforts to smoothly complete the withdrawal process while ensuring public convenience and maintaining confidence in the country’s currency management system.