RBI Update On Rs 2000 Note: Last year on May 19, 2023, when the Reserve Bank of India announced the withdrawal of Rs 2000 notes from circulation, at that time a total of Rs 2,000 notes worth Rs 3.56 lakh crore were in circulation in the market.
2000 Rupee Note: More than one and a half years have passed since the ban on pink notes of Rs 2000 in the country, but people are still holding thousands of crores of pink notes. The Reserve Bank of India (RBI) has released the latest update regarding these in the month of November. And it has told that since being taken out of circulation, out of the total Rs 2000 notes, people still have notes worth Rs 6,970 crore. This figure is till 31 October 2024.
Rs 147 crore came in a month
According to the latest update of RBI, 98.04 percent of 2000 rupee notes have been returned, but the pace of their return to the central banks has become very slow. This can be gauged from the fact that only pink notes worth Rs 147 crore have been returned in a month. Earlier on October 1, 2024, while sharing the data of withdrawal of Rs 2000 notes withdrawn from circulation, the central bank had said that pink notes worth Rs 7,117 crore were left in the market, while now this figure has come down to Rs 6,970 crore.
The pace of return is continuously slowing down
According to the data shared by the Reserve Bank of India on July 1, 2024, Rs 2000 notes worth Rs 7581 crore were left in the market, while on October 1 it was Rs 7,117 crore and now on October 31 it is Rs 6,970 crore. In such a situation, if we look from July till now, only notes worth Rs 611 crore could be returned. Last year, when these notes were banned in May 2023, currency notes worth Rs 3.56 lakh crore were present in the market and by December 29, 2023, this figure had come down to Rs 9,330 crore. But after this, the pace of their return kept decreasing continuously.
When and why were 2000 notes discontinued?
Under the Clean Note Policy, RBI had announced the withdrawal of this 2000 rupees note of the highest value in circulation in the country on 19 May 2023. After this, the central bank had given time from 23 May to 30 September 2023 to return and exchange these notes in local banks and 19 RBI regional offices. However, after this this deadline was continuously extended.
You can still deposit 2000 notes
Let us tell you that these notes can still be exchanged, although this work will not be done in local banks. The central bank has already clarified that these pink notes withdrawn from circulation can be deposited in 19 RBI Offices located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram, besides the public can also deposit these notes through any post office near them through India Post.
These notes were introduced after the first demonetization
The central bank introduced Rs 2,000 denomination banknotes in November 2016, when the government decided to ban the Rs 500 and Rs 1,000 notes in circulation. After this, the purpose of introducing Rs 2,000 banknotes was accomplished after sufficient quantity of banknotes of other denominations became available. Therefore, printing of Rs 2,000 banknotes was discontinued in 2018-19, RBI said.
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