shot-button
Ganesh Chaturthi Ganesh Chaturthi
Home > News > India News > Article > Rs 2000 notes worth Rs 180 lakh crore have come back in banks so far says RBI Governor

Rs 2,000 notes worth Rs 1.80 lakh crore have come back in banks so far, says RBI Governor

Updated on: 08 June,2023 01:08 PM IST  |  Mumbai
PTI |

As on March 31, 2023, the RBI Governor said that Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation

Rs 2,000 notes worth Rs 1.80 lakh crore have come back in banks so far, says RBI Governor

Reserve Bank of India. File photo

Reserve Bank Governor Shaktikanta Das on Thursday said about 50 per cent of Rs 2,000 notes in circulation has come back in the banking system since the RBI announced withdrawal of the highest denomination currency last month.


As on March 31, 2023, he said, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation.


"So far, Rs 1.80 lakh crore have come back after the announcement," he said during an interaction with media after releasing the bi-monthly monetary policy here.
About 85 per cent of Rs 2,000 notes are coming as deposits in bank accounts and this is in line with expectation, he said.


On May 19, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes as part of its currency management and permitted the exchange of such notes (up to Rs 20,000 in one go) from May 23 onwards. The exchange or deposit window is available till September 30, 2023.

The governor also urged the public not to panic for exchange or deposit of Rs 2,000 notes but should avoid last minute rush.

He also made it clear that RBI is not thinking of withdrawing Rs 500 notes, or even re-introducing notes in the Rs 1,000 denomination, and requested the public not to speculate on this.

Last month, the RBI governor had said the majority of the withdrawn Rs 2,000 currency notes are expected to be returned to the banking system by the September 30 deadline.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK