Most Rs 2K notes will come back from circulation by Sep 30: RBI Gov

The Reserve Bank of India expects many of the excellent Rs 2,000 denomination banknotes to come back to the banks by September 30, the final date for deposit/change of such notes, Shaktikanta Das, the RBI Governor stated.

While chatting with reporters right here on Monday, he stated that many of the Rs 2,000 word will be back to the banks by September 30, 2023 and in addition urged the individuals to not rush to the banks to deposit/change.

According to RBI, there are about 181 crore of Rs 2,000 denomination foreign money notes out in circulation.

On May 19 the RBI stated it will withdraw all of the Rs 2,000 banknotes as part of its clear word coverage and added that it will proceed to be a authorized tender.

According to the RBI, individuals might deposit Rs 2,000 banknotes into their financial institution accounts and/or change them into banknotes of different denominations at any financial institution department from May 23 onwards until September 30.

Stating that the aim of coming with the Rs 2,000 notes to replenish void created by demonetisation of Rs 500/Rs 1,000 notes has been achieved and now there’s adequate variety of foreign money notes in circulation.

Based on the necessity Rs 500 banknote will be printed, he added. According to him, even earlier many retailers and others have been reluctant to just accept Rs 2,000 notes.

He additionally stated the security measures of the Rs 2,000 word haven’t been breached.

(With inputs from IANS)