Rs 2000 Notes Withdrawal: Here's The Timeline
RBI has said that Rs 2000 banknotes continue to be legal tender.
The Reserve Bank of India (RBI) on Friday said nearly 97.26% of the Rs 2,000 banknotes have been returned to the banking system, and only about Rs 9,760 crore worth of the notes are still with the public.
Timeline of Rs 2000 Notes Withdrawal
Here is a small timeline of the withdrawal of Rs 2000 note since it was announced on May 19, 2023.
RBI had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023.
The facility for exchange was available at the 19 RBI Issue Offices from May 19, 2023.
The total value of Rs 2000 banknotes in circulation was amounted to Rs 3.56 lakh crore at the close of business on May 19, 2023 when the withdrawal was announced.
The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches in the country initially up to September 30, 2023, which was later extended upto October 7, 2023.
From October 9, 2023, RBI Issue Offices, in addition to exchanging Rs 2000 denomination banknotes across the counters, were also accepting Rs 2000 banknotes from individuals or entities for deposit to their bank accounts.
As of November 30, the total value of Rs 2000 notes with the public is Rs 9,760 crore at the close of business.
As of November 30, 97.26% of the Rs 2000 banknotes in circulation has since been returned.
