93% of Rs 2,000 notes return to banks: RBI

New Delhi, September 1

About 93% of the Rs 2,000 banknotes have returned to the banking system since the Reserve Bank of India (RBI) in May decided to withdraw the high-value note from circulation, the central bank said in its latest update on Friday.

The Rs 2,000 banknotes in circulation as of August 31 stood at Rs 0.24 lakh crore, the RBI said.

The total value of Rs 2,000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023 — when the RBI decided to withdraw the banknote.

Thus, the total value of Rs 2,000 banknotes returned to the system after the announcement on May 19 is to the tune of Rs 3.32 lakh crore, the RBI statement said, citing data it received from banks. — ANI

87% came in form of deposits

• According to the data received from banks, the RBI said the total value of Rs 2,000 banknotes received back from circulation is Rs 3.32 lakh crore up to August 31, 2023
• Consequently, Rs 2,000 banknotes in circulation as at the close of business on August 31 stood at Rs 0.24 lakh crore
• Out of the total banknotes received back from circulation, about 87% came in the form of deposits and the remaining around 13% has been exchanged into other denomination notes