The Reserve Bank of India revealed that a significant portion, approximately 76 percent, of the ₹2,000 notes in circulation has been returned to banks primarily through deposits. On May 19, the RBI announced the withdrawal of ₹2,000 notes and provided the public with a deadline of September 30 to either deposit the notes into their bank accounts or exchange them.
According to the data received from banks, the total value of returned ₹2,000 banknotes reached ₹2.72 lakh crore by June 30, 2023. Consequently, as of the end of June, the total value of ₹2,000 banknotes in circulation stood at ₹0.84 lakh crore.
The collected data from major banks indicates that around 87 percent of the returned ₹2,000 banknotes were in the form of deposits, while the remaining 13 percent were exchanged for banknotes of other denominations.
