The Reserve Bank of India (RBI) said 76% of the ₹2,000 banknotes in circulation as on May 19, 2023 have since been returned and has urged members of the general public to utilise the next three months to deposit and/or exchange the ₹2,000 banknotes.
It said according to the data received from the banks, the total value of ₹2,000 banknotes received back from circulation after the announcement on May 19 is ₹2.72 lakh crore up to June 30, 2023. “Consequently, ₹2,000 banknotes in circulation as at the close of business on June 30 stood at ₹0.84 lakh crore,” it said.
“Data collected from major banks indicates that out of the total banknotes in ₹2,000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes,” the RBI said.
It said the total value of ₹2,000 banknotes in circulation, which amounted to ₹3.62 lakh crore on March 31, 2023 had declined to ₹3.56 lakh crore as at the close of business on May 19, 2023.