Governor Shaktikanta Das on Friday said Rs 3.43 lakh crore of Rs 2,000 denomination notes have come back to the system so far, and reminded the public that they can return the withdrawn notes at 19 RBI offices from October 8. Addressing the customary post-policy press meet here, Mr Das said 87 per cent of the notes that have been returned have been deposited into bank accounts, while the rest have been exchanged over the counter.
At present, over Rs 12,000 crore of notes are still in circulation, Mr Das said, reiterating that the notes can be returned even after the end of the extended period.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
It can be noted that on May 19, the RBI surprised all by announcing its intent to withdraw the Rs 2,000 note introduced in 2016 for quick remonetisation, following Prime Minister Narendra Modi's announcement to suck out over 88 per cent of the currency in circulation by banning the Rs 500 and Rs 1,000 notes.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The RBI, which had initially given time till September 30, to get the notes deposited or exchanged, extended the same by a week till October 7, on the last date.
Maintaining that the notes continue to be legal tender, the RBI also announced a new system for getting them deposited or exchanged.
"... thereafter (from October 8) it can be, you know, deposited in or exchanged in the Reserve Bank in the issue offices of the Reserve Bank, which is there in almost every state capital we have a presence. So there are 19 of them," Mr Das told reporters on Friday.
He added that the original objective of withdrawing the notes, which was also driven by the need to take care of old notes, has been "largely met".
Mr Das also said that the postal department's services can be availed in case someone cannot travel to the RBI offices.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
