By the close of trading hours on February 29, about 97.62 per cent of the Rs 2,000 notes have returned to the banking system and only Rs 8,470 crore of notes are still with the public.
Due to the work related to annual accounting in banks, the facility of exchange or deposit of Rs 2000 bank note will not be available on April 1, 2024 i.e. Monday. The Reserve Bank of India (RBI) said in a statement that the facility will be restored in 19 regional offices of the central bank the next day on Tuesday.
RBI said – due to the work related to annual accounting, the facility of exchange/deposit of Rs 2000 bank notes will not be available in 19 regional offices of the Reserve Bank of India on Monday, April 1, 2024.
97.62 percent notes recovered
The Central Reserve Bank had announced the withdrawal of Rs 2000 note on May 19, 2023. The bank said that by the end of business hours on February 29, about 97.62 percent of the Rs 2,000 notes have returned to the banking system and only Rs 8,470 crore of notes are still with the public.
Meanwhile, the Reserve Bank said that bank credit to industry increased by 8.6 percent on an annual basis in February. The main reason for this is the increase in the pace of borrowing by sectors like infrastructure and textiles. Credit growth to agriculture and allied activities remained strong at 20.1 per cent in February, compared with 15 per cent in the same month a year ago, Reserve Bank data said. Data on bank credit to different sectors for February has been collected from 41 selected commercial banks.
