On May 19, 2023, the central bank RBI had announced the withdrawal of pink notes of Rs 2,000 from circulation and said that from May 23 to September 30, 2023, people can deposit these notes with them in the nearest bank.
On May 19, 2023, the Reserve Bank of India announced the withdrawal of the largest currency note of Rs 2000 in circulation. After this, the facility of exchanging these notes was made available in all the banks of the country and time was given till 30th September for the return of these notes. Presenting the latest data of the returned Rs 2,000 notes, the RBI has now said that till July 31, 2023, pink notes worth Rs 3.14 lakh crore in the market have been returned. oh
Presenting the data of the returned notes, RBI has said that since May 19, 2023, 88 percent of the Rs 2,000 notes have been returned . Their total value is Rs 3.14 lakh crore. Now only notes worth Rs 0.42 lakh crore are left in the market. The data that was presented by the Reserve Bank in the month of June last. According to him, Rs 2000 notes worth Rs 2.72 lakh crore had been returned and notes worth Rs 84,000 crore were available with the people, but this figure has halved in a month.
Still holding on to Rs 42,000 crore notes?
Even now there are 2000 notes worth Rs 42,000 crore which are in the market. If we look at this amount in terms of bundles, then a total of 21 lakh bundles of Rs.2000 are still in circulation. Obviously there are 100 notes in a bundle.
Significantly, till March 31, 2023, Rs 2,000 notes worth about Rs 3.56 lakh crore were in circulation in the country. Out of these, till July 31, 2023, notes worth Rs 3.14 lakh crore have been returned. In the month of May, when the Reserve Bank had announced the closure of pink notes of Rs 2,000, after that the process of changing these notes through banks was started. In the beginning, there used to be a scene of overcrowding in the banks, but now only a few people are seen reaching the banks for this work.
September 30 is the deadline to change notes
The central bank, along with announcing the withdrawal of Rs 2,000 notes from circulation, had said that from May 23 to September 30, 2023, people can deposit these notes with them in the nearest bank. And you can get them changed. Apart from banks, people have also been given the facility to exchange 2000 notes in 19 regional offices of RBI. Reserve Bank Governor Shaktikanta Das had also appealed to the people to deposit their notes in banks by the stipulated date or get them exchanged. The appeal of the central bank also seems to be paying off and the example of this is that 88 per cent of the Rs 2000 notes have come back to the banks.
When were the Rs 2,000 notes introduced? The
Rs 2,000 denomination bank notes were introduced in November 2016 after the government decided to demonetise the Rs 5,00 and Rs 1,000 notes in circulation. After this, the purpose of starting Rs 2,000 bank notes was fulfilled after the bank notes of other denominations were available in sufficient quantity. RBI said that therefore, the printing of Rs 2,000 bank notes was stopped in 2018-19. If you also have a note of 2,000 rupees, then you still have a chance to exchange them, in such a situation, finish this work as soon as possible.
