After demonetisation Rs. 8897 crore went where?, in banks Rs. Only 97.50% of 2000 notes were deposited

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RBI 2000 Rupee Notes Data : 8 months have passed since demonetisation i.e. Rs 2000 notes were taken out of circulation on 19th May 2023 in the country, yet there are still Rs 8897 crore notes in the market. Despite the relentless efforts and awareness of the Reserve Bank of India (RBI) and the government, till now 2.50 percent has not returned to the banking system. RBI has released data on how many 2000 notes have been returned till the end of January-2024.

97.50 percent of 2000 notes returned to the banking system

According to the RBI, 97.50 percent of the 2000 notes withdrawn from circulation by January 31-2024 have returned to the banking system, while 2.50 percent of the notes i.e. Rs 8897 crore have not yet returned to the system. It is to be mentioned that the Reserve Bank had stopped 2000 rupee notes last year. Meanwhile, a total of 3.56 lakh crore rupees of 2000 notes were in circulation till May 19-2023.

The government took a decision in May

Reserve Bank of India has decided on 2000 rupee note as the largest currency in 19-May-2023. The deadline for returning the Rs 2000 note was set to September 30-2023, but after that, the deadline was relaxed again and it started taking the notes from October 8. The Reserve Bank of India has decided to stop 2000 rupee notes under the clean note policy.

2000 notes printing stopped from 2018-19

RBI has stopped printing of Rs.2000 notes from the year 2018-19. While in 2021-22, 38 crore worth of Rs.2000 notes were destroyed. After demonetisation in 2016, Rs.2000 notes came into the market. At that time, Prime Minister Narendra Modi announced the demonetisation of Rs 500 and Rs 1000 notes and replaced them with new Rs 500 and Rs 2000 notes.

Reserve Bank released this note in 2016

When Prime Minister Narendra Modi (PM Narendra Modi) announced demonetisation in the country on 8 November 2016, 500 and 1000 notes were canceled in circulation. This decision of the government caused a lot of uproar in the country, but later the new note became part of the currency market. The government had launched 200, 500 and 2000 notes but now 2000 notes have been recalled, after demonetisation in November 2016 the country was in a state of turmoil for the next few months. People had to stand in long queues at banks to deposit old notes and get new notes.

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