The Reserve Bank of India (RBI) on June 8 said that Rs 1.80 lakh crores worth Rs 2,000 notes have come back to the system following the government’s decision to withdraw the notes from circulation.
Half Of All Rs 2,000 Notes In Circulation Back In System
Addressing reporters after releasing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said, ”About 50 per cent of Rs 2,000 notes in circulation has come back in the banking system. So far, Rs 1.80 lakh crore have come back after the announcement.”
As on March 31, 2023, Rs 2,000 notes worth Rs 3.62 lakh crores were in circulation. The RBI had announced that it will be withdrawing its highest denomination currency note from circulation.
The note will remain a legal tender. However, citizens were asked to deposit or exchange the notes by September 30. It may be noted that the Monetary Policy Committee (MPC) voted unanimously to keep the benchmark repurchase, or repo rate unchanged at 6.50 per cent.