Most Rs 2000 notes in circulation to be returned to banks by Sept 30: RBI governor
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Chennai RBI Governor Shaktikanta Das has said that the Reserve Bank of India expects most of the Rs 2,000 currency notes to be returned to banks by September 30. Speaking to reporters on Monday, he said that most of the Rs 2,000 notes would be returned to banks by September 30, 2023, and also urged people not to crowd banks to collect deposits.
According to the RBI, there are around 181 crore Rs 2,000 notes in circulation. On 19 May, the RBI said that it would withdraw all Rs 2,000 notes as a part of the clean note policy, adding that it would remain legal tender. According to RBI, people can deposit Rs 2,000 notes in their bank accounts and/or exchange them for other denomination bank notes from May 23 to September 30 at any bank branch.
He said that the purpose of coming out with Rs 2,000 notes to fill the void created by demonetisation of Rs 500/1000 notes has been fulfilled and now adequate number of currency notes are in circulation.
He said that Rs 500 note will be printed as per the requirement. According to him, earlier also many shops and other people were reluctant to accept Rs 2,000 notes. He also said that the security features of the Rs 2,000 note have not been breached.
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