Only four days left for the deposit/transfer of ₹2,000 currency notes. The Reserve Bank of India (RBI) ordered the withdrawal of Rs 2,000 notes on May 19, giving people till September 30 to exchange or deposit them in banks.
There are still about 240 billion rupees ($2.9 billion), about 24,000 crore rupees worth of notes in circulation, Bloomberg reports. 93% of the ₹2,000 notes have either been deposited or exchanged in banks, the central bank said earlier this month.
“As per data from banks, the total value of ₹2,000 banknotes withdrawn from circulation is ₹3.32 lakh crore as on August 31, 2023. As a result, the value of ₹2,000 banknotes in circulation at the close of business on August 31, 2023 stands at ₹24,000 crore. Thus, 93% of ₹2,000 banknotes in circulation till May 19, 2023 have been returned,” RBI said in a statement on September 1, 2023.
The notes will remain legal tender even after September 30, but they will not be accepted for transaction purposes and can only be exchanged with the RBI.
