New Delhi, Mar 1 : The government has received 97.62 per cent of Rs 2000 banknotes till February 29, 2024, the RBI said on Friday, adding the banknote continues to be legal tender.

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8470 crore at the close of business on February 29, 2024. Thus, 97.62 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned, RBI said.

The Reserve Bank of India had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19 last year. The status of withdrawal of Rs 2000 banknotes is periodically published by the Central Bank.
The facility for deposit and / or exchange of the Rs 2000 banknotes was available at all bank branches in the country upto October 07, 2023.

The facility for exchange of the Rs 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting Rs 2000 banknotes from individuals / entities for deposit into their bank accounts.

Further, members of the public are sending Rs 2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.
It said the Rs 2000 banknotes continue to be legal tender.

UNI