The Reserve Bank of India (RBI) has reported that the total value of Rs 2,000 banknotes in circulation has significantly decreased to Rs 0.10 lakh crore as of October 31, 2023. This is a substantial reduction from the amount of Rs 3.56 lakh crore in circulation as of May 19, 2023, when the decision to withdraw these banknotes was announced.
The RBI noted that more than 97 percent of the Rs 2,000 banknotes that were in circulation as of May 19, 2023, have been returned, indicating a significant decrease in their usage.
The RBI has also stated that the option to deposit or exchange Rs 2,000 banknotes remains available at the 19 Issue Offices of the RBI. To make it more convenient for the public, the RBI encourages the use of India Post's postal services to send Rs 2,000 banknotes for deposit or exchange. This helps avoid the need for individuals to visit RBI offices in person.
It's important to note that Rs 2,000 banknotes continue to be legal tender, as per the RBI's statement.
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