On May 19, RBI announced that the 2000 rupee note will be withdrawn from the market.
New Delhi: Two-thirds of the Rs 2,000 notes have been returned to the system since the withdrawal process began. Reserve Bank of India (RBI) Governor Shaktikanta Das said this on Sunday. On May 19, RBI announced that the 2000 rupee note will be withdrawn from the market. 3.62 lakh crore worth of Rs 2000 notes are to come back into the system.
At a press conference after the RBI's Economic Policy Committee (MPC) meeting on June 8, Shaktikanta Das said that as on March 31, 2023, the market had circulation of Rs 3.62 lakh crore worth of Rs 2,000 notes. Among them, 50 percent, i.e. 1.8 lakh crore worth of Rs 2000 notes have been returned.
In an interview with news agency on Monday, the RBI Governor said that after completion of one month, it appears that out of the 3.62 lakh crore rupees spread in the market, Rs 2.41 lakh crore of 2000 notes have returned to the system. He also said that about 85 percent of the notes were returned to the banking system through bank deposits. The remaining 15 percent has been exchanged for other notes. Besides, Shaktikanta Das said, no one needs to rush to the bank to deposit or exchange the Rs 2,000 note, as the last day for depositing the note has been extended to September 30. On the question whether demonetisation of 2000 notes has had any impact on the country's economy, Das said, "Overall, I don't think demonetisation has had any negative impact on the economy."
Notably, according to central bank data, printing of Rs 2,000 notes was stopped in 2018-19. After demonetization in November 2016, 2000 rupee notes were introduced. At that time old 500 rupees notes and 1000 rupees notes were declared cancelled. The statement of the central bank has already informed that those who have notes of 2000 rupees can deposit that note in the bank account or get another note instead. Notes up to 20 thousand rupees will be changed at one time. As per RBI guidelines, banks will have separate special windows for exchanging Rs 2,000 notes. Where you can easily change notes.
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