May 3, 2024 9:52 AM

RBI says 97.76% of Rs 2000 currency notes returned to banking system

The Reserve Bank of India (RBI) has issued an update regarding the withdrawal of Rs 2000 denomination banknotes from circulation. According to the RBI press release, the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore as of May 19, 2023, has significantly decreased to Rs 7961 crore by April 30, 2024. This indicates that 97.76 per cent of the Rs 2000 banknotes in circulation as of May 19, 2023, have been returned. The withdrawal process was initially announced throu...