Rs 2000 Banknotes: A Circulation Conundrum
Despite the withdrawal of Rs 2000 banknotes announced by RBI in May 2023, a substantial amount worth Rs 6,099 crore remains in circulation. The RBI continues to provide facilities for exchanging or depositing these notes, which retain their status as legal tender.
- Country:
- India
Despite the Reserve Bank of India's decision to withdraw Rs 2000 denominated banknotes on May 19, 2023, a hefty Rs 6,099 crore worth of these notes remain in circulation, according to the latest figures released on Tuesday.
RBI data indicates a sharp decline from Rs 3.56 lakh crore in May 2023 to Rs 6,099 crore by June 30, 2025, signifying that 98.29% of these banknotes have been returned.
Both bank branches and RBI issue offices continue to accommodate the deposit and exchange of Rs 2000 notes, with further alternatives such as mailing through India Post for account credit also available.
(With inputs from agencies.)
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