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The whole worth of Rs. 2000 financial institution notes in circulation which amounted to Rs. 3.56 lakh crore on nineteenth Could this 12 months have diminished to Rs. 9,760 crores as of thirtieth November.
The RBI emphasised that the 2000 rupee be aware, the best denomination, continues to be a authorized tender.
The central financial institution had allowed the deposit and change of those notes at financial institution branches up until thirtieth September, however prolonged the deadline by per week as much as seventh October 2023. The ability for change of the 2000 rupee be aware was additionally out there on the 19 concern workplaces of RBI
The 2000 rupee be aware had been launched in November 2016 to satisfy foreign money necessities after the withdrawal of 500 and 1,000 notes at the moment. The printing of 2000 rupee be aware was stopped in 2018-19, after ample inventory of notes of different denominations had been made out there.
With the RBI having noticed that the Rs 2000 notes weren’t broadly used for transactions and in pursuance of its ‘Clear Word Coverage’, the central financial institution determined to withdraw the notes from circulation.
