The Reserve Bank of India (RBI) revealed on Monday that almost 97.69 percent of the ₹2,000 notes have made their way back into the banking system. They also mentioned that only ₹8,202 crore of the notes that were withdrawn from circulation are still held by the public.
Back on May 19, 2023, the RBI had declared the withdrawal of ₹2,000 denomination banknotes. At that time, the total value of these notes in circulation was ₹3.56 lakh crore. Fast forward to March 29, 2024, and only ₹8,202 crore of these notes are still out there.
As of May 19, 2023, nearly 97.69 percent of the ₹2,000 banknotes in circulation have been accounted for. These notes are still considered legal tender, and individuals can either deposit or exchange them at any of the RBI's 19 offices nationwide. They can also send them via India Post to any RBI office to have the amount credited to their bank accounts.
Previously, both individuals and organizations were instructed to either exchange or deposit these notes into their bank accounts by September 30, 2023. Later, this deadline was extended to October 7, 2023. After that, deposit and exchange services at bank branches were halted. From October 8, 2023, people were given the option to exchange currency or deposit equivalent amounts into their bank accounts at any of the RBI's 19 offices.
These RBI offices, where notes can be deposited or exchanged, are located across cities like Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.