Rs 2000 banknotes continue to be legal tender even as 97.26% of circulating banknotes return to RBI

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8470 crore at the close of business on February 29, 2024.

Mumbai: The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 8470 crore at the close of business on February 29, 2024. 97.6 per cent of the Rs 2000 banknotes in circulation as of May 19, 2023, have since been returned, the RBI added, a RBI release said.

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