Update on withdrawal of Rs 2000 Denomination Banknotes –Rs 2000 banknotes continue to be legal tender-RBI
Kanwar Inder singh/ royalpatiala.in News/ July 1,2024
Today, Reserve Bank of India (RBI) released the status of the withdrawal of Rs 2000 denomination banknotes.
As per RBI Press Release” The Reserve Bank of India (RBI) had announced the withdrawal of 2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of 2000 banknotes is periodically published by the RBI. The last press release in this regard was published on June 03, 2024.
The facility for deposit and / or exchange of the 2000 banknotes was available at all bank branches in the country upto October 07, 2023.
The facility for exchange of the 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting 2000 banknotes from individuals / entities for deposit into their bank accounts. Further, members of the public are sending 2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.
Update on withdrawal of Rs 2000 Denomination Banknotes –2000 banknotes continue to be legal tender-RBI. The total value of 2000 banknotes in circulation, which was 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of 2000 banknotes was announced, has declined to 7581 crore at the close of business on June 28, 2024. Thus, 97.87% of the 2000 banknotes in circulation as on May 19, 2023, has since been returned.
The 2000 banknotes continue to be legal tender.
