The Reserve Bank of India (RBI) revealed on Monday that 97.82% of the Rs 2000 denomination banknotes have made their approach again into the banking system, leaving solely Rs 7,755 crore price of the withdrawn notes nonetheless within the possession of the general public. The RBI introduced the withdrawal of Rs 2000-denomination banknotes from circulation on May 19, 2023. Since then, the whole worth of those banknotes in circulation has diminished considerably.
Facilities for alternate and deposits
Until October 7, 2023, people had the chance to deposit and/or alternate Rs 2000 banknotes in any respect financial institution branches throughout the nation. Subsequently, alternate services had been made accessible on the 19 difficulty workplaces of the Reserve Bank from May 19, 2023.
Current alternate procedures
Starting from October 9, 2023, RBI difficulty workplaces started accepting Rs 2000 banknotes from people and entities for deposit into their financial institution accounts. Additionally, members of the general public have been using India Post companies to ship Rs 2000 banknotes to any RBI difficulty workplace for credit score to their financial institution accounts.
Locations for alternate and deposits
Nineteen RBI workplaces throughout the nation are facilitating the depositing and exchanging of those banknotes. These workplaces are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
Background on Rs. 2000 banknotes
Introduced in November 2016 following the demonetisation of the then-prevailing Rs 1000 and Rs 500 banknotes, the Rs 2000 banknotes have now undergone important circulation modifications through the years.
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Source: www.indiatvnews.com
