Majority of Rs 2,000 notes will come back from circulation by Sept 30, RBI Das
Majority of Rs 2,000 notes will come back from circulation by Sept 30, RBI Das

CHENNAI: RBI Governor Shaktikanta Das said, the majority of the remaining Rs 2,000 banknotes will be returned to the banks by September 30, which is the deadline for storing or exchanging them.

He told reporters on Monday that by September 30, 2023, the majority of the Rs 2,000 notes will have returned to the banks. He also urged people not to rush to the banks to deposit or exchange their money.

Around 181 crore notes with a value of Rs 2,000 are now in use, according to the RBI. As part of its clean note policy, the RBI announced on May 19 that it will withdraw all Rs 2,000 banknotes while stating that they would still remain accepted as legal cash.

The RBI states that beginning on May 23 and continuing through September 30, customers may deposit Rs 2,000 banknotes into their accounts and/or swap them for notes of other denominations at any bank location.

claiming that the goal of introducing the Rs 2,000 notes was achieved and that there are now enough currency notes in circulation. This followed the demonetization of the Rs 500 and Rs 1,000 notes.

Based on the need, Rs 500 banknote will be printed, he said, adding that t many companies and others had previously been unwilling to accept notes worth Rs 2,000.

The central bank governor also said the security features of the Rs 2,000 note have not been breached.

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