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The Reserve Bank of India (RBI) reported on Monday that nearly 97.69 percent of the Rs 2000 denomination banknotes have been returned to the banking system and only Rs 8,202 crore worth of the withdrawn notes are in public circulation.
The withdrawal of Rs 2000 denomination banknotes was announced by the RBI on May 19, 2023. At that time, the total value of Rs 2000 banknotes in circulation amounted to Rs 3.56 lakh crore. However, as of March 29, 2024, this value has significantly declined to Rs 8,202 crore, indicating a substantial reduction in the presence of these notes in circulation, the Reserve Bank of India said in a statement.
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