Around 7,000-crore worth 2,000 banknotes yet to be gone back to RBI over one year after the withdrawal

Nearly one-and-a-half years after the Reserve Bank of India (RBI) revealed withdrawal of 2,000 religion banknotes on May 19, 2023, the complete worth of banknotes which have actually yet not been returned stands at 6,977.6 crore as on Oct 31, 2024, reveals the RBI information.

The most current information disclosed that the money banknotes which have actually currently been returned consist of 98.04 percent of the 2000 banknotes in flow as on May 19, 2023.

This suggests, the proportion of banknotes which have actually still not been returned are 1.96 percent of the complete worth which stood at 3.56 lakh crore as on May 19, 2023.

Ever because RBI revealed the withdrawal of 2,000 religion banknotes from flow in May in 2014, the standing of withdrawal is occasionally released. The last news release hereof was released on October 01, 2024 when the money in flow stood at 7117 crore.

In one month, this has actually minimized to 6,977.6 crore.

After demonetisation

The 2000 religion banknote was presented in November 2016 mainly to fulfill the money demand of the economic situation after the withdrawal of 500 and 1000 banknotes in flow back then.

The goal of presenting 2000 banknotes was fulfilled when banknotes in various other religions appeared in sufficient amounts. Therefore, printing of 2000 banknotes was dropped in 2018-19. About 89 percent of the 2000 religion banknotes were provided before March 2017 and go to completion of their approximated life-span of 4-5 years.

The complete worth of these banknotes in flow decreased from 6.73 lakh crore as on March 31, 2018 (when they made up 37.3 percent of notes in flow) to 3.62 lakh crore making up just 10.8 percent of notes in Circulation on March 31, 2023.

How to exchange 2,000 notes: Step- by-step overview

1. Visit RBI workplace in New Delhi with the money and bring your aadhaar together with a copy to be turned over. If the quantity is greater than 50,000, you require to bring a frying pan and a copy of the initial file.

2. Show your records at the entrance entrance where you will certainly be offered a type in which the individual at work will certainly create the variety of notes to be traded.

3. You will certainly not be allowed to bring a bag message this factor. So, down payment the bag or laptop computer at eviction where you will certainly be offered a token.

4. Enter the cellar workplace with the type where you will certainly need to load the staying component of the type and obtain it marked from the RBI’s authorities.

5. Once the type is submitted, authorized and marked, you can currently get in the primary structure of RBI from the primary entry where you would certainly be assisted to the home window where exchange of notes is accomplished.

6. It’s at this home window, you can turn over the type, duplicate of aadhaar and the money notes. In return you will certainly be offered the comparable quantity of money notes.