MANU/RPRL/0393/2023
Ministry : Reserve Bank of India
Department/Board : Press Release
Press Release No. : 2023-2024/522
Date : 03.07.2023
Notification/ Circulars Referred : Press Release 2023-2024/257 dated May 19, 2023 MANU/RPRL/0293/2023
Citing Reference:
Press Release 2023-2024/257 dated May 19, 2023 MANU/RPRL/0293/2023 Referred
Withdrawal of ` 2000 Denomination Banknotes - Status
The Reserve Bank of India had announced the withdrawal of ₹ 2000 banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The total value of ₹
2000 banknotes in circulation, which amounted to ₹ 3.62 lakh crore on March 31, 2023 had declined to ₹
3.56 lakh crore as at the close of business on May 19, 2023.
According to the data received from the banks, the total value of ₹ 2000
banknotes received back from circulation after the announcement on May 19 is
₹ 2.72 lakh crore up to June 30, 2023. Consequently, ₹2000 banknotes
in circulation as at the close of business on June 30 stood at ₹ 0.84 lakh
crore. Thus, 76% of the ₹ 2000 banknotes in circulation as on May 19, 2023
have since been returned.
Data collected from major banks indicates that out of the total banknotes in ₹
2000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.
Members of the public are requested to utilise the next three months to
deposit and/or exchange the ₹ 2000 banknotes held with them to avoid any
rush in the last few days before September 30, 2023.
(Yogesh Dayal)
Chief General Manager