Reserve Bank Of India: The Reserve Bank of India (RBI) has released an important update regarding Rs 2000 notes. According to the RBI, 98.12% of Rs 2000 notes have returned to the banking system. However, there are still about Rs 6,691 crore of Rs 2000 notes left with the public. The announcement was made on Wednesday, giving detailed information on the current status of the notes.
Huge reduction in the number of Rs 2000 notes
The RBI had announced on 19 May 2023 that Rs 2000 notes were being taken out of circulation. At that time the total value of these notes was Rs 3.56 lakh crore. But by 31 December 2024 it had come down to just Rs 6,691 crore. This shows that 98.12% of the Rs 2000 notes have now returned to the banking system.
Facility to deposit notes
From 19 May 2023 to 7 October 2023, the public had the option to deposit or exchange Rs 2000 notes in any bank branch. Even after this, this facility continues in 19 offices of the Reserve Bank of India.
Options to deposit notes
From 9 October 2023, people can deposit Rs 2000 notes directly in the RBI office.
Another option is that people can send these notes to RBI offices through India Post. This will deposit their notes in RBI and credit them to their bank account.
In which cities can notes be deposited?
The Reserve Bank of India has designated 19 offices for depositing notes for the convenience of the public. These offices are located in the following cities:
Ahmedabad
Bangalore
Belapur
Bhopal
Bhubaneshwar
Chandigarh
Chennai
Guwahati
Hyderabad
Jaipur
Jammu
Kanpur
Kolkata
Lucknow
Mumbai
Nagpur
New Delhi
Patna
Thiruvananthapuram
Rs 2000 notes still valid
RBI has clarified that Rs 2000 notes are still legal tender. This means that people can use them in normal transactions. However, the government and RBI insist that these notes be deposited in the banking system as soon as possible.
Summary
RBI's move is a big step towards transparency in the economy and better management of cash. The public still has enough time and options available to deposit the notes. To ensure that the notes are used properly, people are advised to follow the prescribed procedure.
Disclaimer: For any information related to usage and deposit of Rs 2000 notes, please visit RBI official website or contact nearest branch.