Withdrawal of ₹2,000 Notes: 98% Returned, RBI Reports
The Reserve Bank of India (RBI) has reported that nearly 98% of ₹2,000 banknotes have been withdrawn from circulation as of July 31, 2024. The remaining ₹2,000 notes amount to ₹7,409 crore. The RBI will cease exchanging ₹2,000 notes on April 1, 2024, due to Annual Closing of Accounts, but will resume on April 2, 2024, at designated RBI offices.
Current Status: As of July 31, 2024, 97.92% of ₹2,000 banknotes have been returned.
Previous Statistics: As of February 29, 2024, 97.62% of ₹2,000 notes were returned, amounting to approximately ₹8,470 crore in circulation.
Temporary Suspension: The exchange facility for ₹2,000 notes will be unavailable on April 1, 2024, due to Annual Closing of Accounts.
Resumption: The exchange service will recommence on April 2, 2024, at 19 RBI offices across major cities including Ahmedabad, Bengaluru, Mumbai, and New Delhi.
Introduction: ₹2,000 notes were introduced in November 2016 following the demonetization of ₹1,000 and ₹500 notes.
Withdrawal Announcement: The RBI announced the withdrawal of ₹2,000 notes in May 2023 as part of its “Clean Note Policy.” Despite the withdrawal, the ₹2,000 notes remain legal tender.
The withdrawal of ₹2,000 notes is expected to cause some public inconvenience and strain on the banking system, reminiscent of the 2016 demonetization period.
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
Uttar Pradesh is the most populous state in India and also has the highest number…
Hindi is one of the most spoken languages in the world and plays an important…
On 13th Indian Government announced that the Lieutenant General Dhiraj Seth as the next Chief…
National News Mumbai International Film Festival 2026 to Showcase 346 Films from 46 Countries The…
The 2026 FIFA World Cup was kicked off on 11th of June, 2026. This edition…