What percentage of notes returned from the market after 1 month of 2000 'demonetisation', RBI released report

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The process of exchange and deposit of Rs 2000 notes is going on fast in the country. So far 72 percent of the notes have been deposited or exchanged in banks within a month. A month ago, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 notes from circulation. The RBI said 72 per cent of the notes (about Rs 2.62 lakh crore) have been deposited or exchanged in banks.

When was demonetisation 2.0 done?

The Reserve Bank of India announced its decision to withdraw Rs 2,000 notes from circulation on May 19. However, RBI has given citizens till September 30 to convert these into banks. To ensure operational convenience in banks and avoid disruption in branches, RBI has also said that from May 23, 2023, Rs 2000 note can be exchanged with other notes at any bank at a time. The note exchange limit has been fixed at 20,000 rupees. That means 20000 rupees notes will be changed at once.

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