The Reserve Bank of India (RBI) has received ₹2.72 lakh crore in ₹2000 notes since May 19, 2023. This is about 76% of the ₹2,000 banknotes that were in circulation as on May 19. The RBI had announced on May 19 that it would be withdrawing the ₹2000 denomination banknotes from circulation. The deadline for depositing or exchanging these notes is September 30, 2023.
Official copy of the notification has been mentioned below
The Reserve Bank of India had announced the withdrawal of ₹2000 banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The total value of ₹2000 banknotes in circulation, which amounted to ₹3.62 lakh crore on March 31, 2023 had declined to ₹3.56 lakh crore as at the close of business on May 19, 2023.
According to the data received from the banks, the total value of ₹2000 banknotes received back from circulation after the announcement on May 19 is ₹2.72 lakh crore up to June 30, 2023. Consequently, ₹2000 banknotes in circulation as at the close of business on June 30 stood at ₹0.84 lakh crore. Thus, 76% of the ₹2000 banknotes in circulation as on May 19, 2023 have since been returned.
Data collected from major banks indicates that out of the total banknotes in ₹2000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.
Members of the public are requested to utilise the next three months to deposit and/or exchange the ₹2000 banknotes held with them to avoid any rush in the last few days before September 30, 2023.
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