Business
93% of Rs 2000 currency notes have been returned to banks: RBI – Times of India
[ad_1]
NEW DELHI: The Reserve bank of India on Friday said that about 93% of Rs 2000 currency notes have been returned to the banks. Only Rs 0.24 lakh crore of such notes remains with the public, the central bank said.
The RBI had on May 19, 2023 decided to withdraw the Rs 2000 note from circulation citing its clean note policy. RBI had asked banks to stop issuing these notes with immediate effect.
According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023, RBI said in a statement.
“Consequently, Rs 2000 banknotes in circulation as at the close of business on August 31, 2023 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned,” the statement said.
The RBI had on May 19, 2023 decided to withdraw the Rs 2000 note from circulation citing its clean note policy. RBI had asked banks to stop issuing these notes with immediate effect.
According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023, RBI said in a statement.
“Consequently, Rs 2000 banknotes in circulation as at the close of business on August 31, 2023 stood at Rs 0.24 lakh crore. Thus, 93 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned,” the statement said.
[ad_2]
