RBI said- 88 percent of 2000 thousand rupee notes returned to the banking system. Loktej Business News
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Mumbai / New Delhi, 01 August (HS). The Reserve Bank of India (RBI) said that about 88 per cent of the Rs 2,000 notes have been returned. Till July 31, only notes worth Rs 42 thousand crore are left in the market.
In a statement released on Tuesday, the Reserve Bank said that till July 31, a total of Rs 3.14 lakh crore notes of the denomination of Rs 2,000 have returned to banks from circulation. Now only Rs 42,000 crore notes of Rs 2,000 denomination are in circulation in the market. According to the RBI, about 87 per cent of the Rs 2,000 notes returned to the banking system came in the form of deposits in banks, while 13 per cent were exchanged for notes of other denominations.
When the Reserve Bank announced the withdrawal of Rs 2,000 notes from circulation, a total of Rs 3.56 lakh crore notes were in circulation. According to the RBI, the value of Rs 2,000 notes in circulation in the country as on March 31 was Rs 3.62 lakh crore. On May 19, the RBI had announced the withdrawal of Rs 2,000 notes from circulation. The Reserve Bank has given consumers the facility to deposit or exchange Rs 2,000 notes in banks till September 30.
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