RBI said more than 98 percent of notes of Rs 2000 back in banking system

Reserve Bank of India: The Reserve Bank of India has said that 98.18 percent notes of Rs 2,000 in circulation have returned to the banking system. Now the public has only such notes worth Rs 6,471 crore. In a statement released on Saturday, the Reserve Bank of India gave information about the status of Rs 2,000 notes. On May 19, 2023, the RBI announced the withdrawal of a bank note of 2000 rupees from the trend. At that time, the total value of these notes in circulation was Rs 3.56 lakh crore. By February 28, 2025, this figure has reduced rapidly to Rs 6,471 crore.

Procedure to deposit 2000 rupee notes

By October 7, 2023, you could go to the bank’s branch and change the Rs 2,000 notes, but now those who have these notes can submit them to the 19-N-Bhagam offices of the Reserve Bank. From October 9, 2023, RBI’s issue has been accepting 2000 rupee notes from individuals and institutions to deposit them in their bank accounts. To make this process further for the people of the country, people have also started the facility of sending 2000 rupee notes to these offices of the Reserve Bank through Indian post, which will later be deposited in their accounts.

Why are 2000 notes being taken back?

The Reserve Bank said that despite being withdrawn from circulation, bank notes of Rs 2,000 will remain valid currency. Explain that withdrawing 2,000 rupee notes is part of the Clean Note Policy of the Reserve Bank of India, so that damaged, fake and less used notes can be removed from circulation.

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