As per the press release by the Reserve Bank of India (RBI), the data received from the banks states that the total value of ₹2000 banknotes received back from circulation is ₹3.14 lakh crore up to July 31, 2023. Consequently, ₹2000 banknotes in circulation as at the close of business on July 31 stood at ₹0.42 lakh crore. Thus, 88% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned.
Data collected from major banks indicates that out of the total banknotes in ₹2000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.
News Source: rbi.org.in
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