Rs 12,000 Crore Of Rs 2,000 Currency Notes Still In Circulation: RBI

RBI introduced to withdraw the Rs 2,000 be aware on Could 19 (Representational)


Governor Shaktikanta Das on Friday stated Rs 3.43 lakh crore of Rs 2,000 denomination notes have come again to the system to date, and reminded the general public that they will return the withdrawn notes at 19 RBI workplaces from October 8. Addressing the customary post-policy press meet right here, Mr Das stated 87 per cent of the notes which were returned have been deposited into financial institution accounts, whereas the remaining have been exchanged over-the-counter.

At current, over Rs 12,000 crore of notes are nonetheless in circulation, Mr Das stated, reiterating that the notes may be returned even after the top of the prolonged interval.

It may be famous that on Could 19, the RBI shocked all by saying its intent to withdraw the Rs 2,000 be aware launched in 2016 for fast remonetisation, following Prime Minister Narendra Modi’s announcement to suck out over 88 per cent of the foreign money in circulation by banning the Rs 500 and Rs 1,000 notes.

The RBI, which had initially given time until September 30, to get the notes deposited or exchanged, prolonged the identical by per week until October 7, on the final date.

Sustaining that the notes proceed to be authorized tender, the RBI additionally introduced a brand new system for getting them deposited or exchanged.

“… thereafter (from October 8) it may be, you recognize, deposited in or exchanged within the Reserve Financial institution within the concern workplaces of the Reserve Financial institution, which is there in virtually each state capital we’ve got a presence. So there are 19 of them,” Mr Das advised reporters on Friday.

He added that the unique goal of withdrawing the notes, which was additionally pushed by the necessity to maintain outdated notes, has been “largely met”.

Mr Das additionally stated that the postal division’s providers may be availed in case somebody can not journey to the RBI workplaces. 

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