The Impressive TimesThe Reserve Bank of India has announced that the total value of ₹2000 banknotes in circulation has declined significantly to ₹7,961 crore as of April 30, 2024. This is a drastic reduction from ₹3.56 lakh crore on May 19, 2023, when the withdrawal of these high-denomination notes was first announced. The RBI reports that 97.76% of these notes have been returned to the banking system.
Despite the withdrawal, ₹2000 banknotes continue to be legal tender. The facility to deposit or exchange these notes at bank branches ended on October 7, 2023, but exchanges can still be made at the 19 RBI Issue Offices across the country.
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