76% of total Rs 2,000 denomination notes in circulation returned to banks: RBI

The Reserve Bank of India (RBI) on Monday stated that as a lot as 76 per cent of the total quantity of Rs 2,000 notes in circulation have been returned to banks.

The central financial institution stated in an announcement that almost all of these notes have returned by way of deposits.

“According to the info obtained from the banks, the total worth of Rs 2,000 financial institution notes obtained again from circulation after the announcement on May 19 is Rs 2.72 lakh crore up to June 30, 2023,” it stated.

1. 87% of Rs 2000 notes is in the shape of deposits,

2. And the remaining round 13% has been exchanged into different denomination financial institution notes.

Consequently, Rs 2,000 financial institution notes in circulation as on the shut of enterprise on June 30 stood at Rs 0.84 lakh crore.

Now, 76 per cent of the Rs 2,000 banknotes in circulation, as on May 19, have since been returned, the central financial institution added in the assertion.

Data collected from main banks indicated that out of the total financial institution notes in Rs 2,000 denomination obtained again from circulation, about 87 per cent is in the shape of deposits and the remaining round 13 per cent has been exchanged into different denomination financial institution notes.

(With inputs from IANS)