More than a year has passed since the ban on pink notes of Rs 2000 in the country, but these currency notes worth more than Rs 7000 crore are still present in the market. The Reserve Bank of India (RBI) has released a big update related to this on Monday with figures. The central bank said that more than 97 percent of the total Rs 2000 notes have been returned since they were taken out of circulation.
The pace of withdrawal of notes has slowed down
On Monday, while sharing the data of the return of Rs 2000 notes that were taken out of circulation, the Reserve Bank of India said that 97.96 percent of the notes of this value have returned to the banks, but people are still holding these pink notes worth Rs 7,261 crore. After taking these notes out of circulation, their return was rapid in the initial phase, but now they are coming back at a very slow pace.
How many notes have been returned since July
According to the figures shared by the Reserve Bank of India on July 1, 2024, Rs 2000 notes worth Rs 7581 crore were left in the market, while even by September 1, this figure cannot come below Rs 7000 crore. In these two months, only Rs 320 crore worth of notes have been returned. Whereas when these notes were banned in the month of May last year, pink notes worth Rs 3.56 lakh crore were present in the market, by December 29, 2023, it had come down to Rs 9,330 crore.
It was closed on 19 May 2023
Under the Clean Note Policy, RBI had announced the withdrawal of this highest value Rs 2000 note in circulation in the country on 19 May 2023. After this, the central bank had given time from 23 May to 30 September 2023 to return and exchange these notes in local banks and 19 RBI regional offices. However, after this this deadline was continuously extended.
You can still deposit 2000 rupee notes
Let us tell you that these notes can still be exchanged, although this work will not be possible in local banks. The central bank has clarified that apart from going to the 19 RBI Offices, which are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram, the public can also deposit these notes through any post office near them through India Post.
These notes were introduced after the first demonetization
The central bank introduced the Rs 2,000 denomination banknotes in November 2016 after the government decided to demonetise the Rs 500 and Rs 1,000 notes in circulation. Subsequently, as banknotes of other denominations became available in sufficient quantities, the purpose of introducing the Rs 2,000 banknotes was accomplished. Therefore, the printing of Rs 2,000 banknotes was discontinued in 2018-19, the RBI said.
Source (PTI) (NDTV) (HINDUSTANTIMES)