As much as 98.12% of the Rs 2,000 notes that were in circulation on May 19, 2023, have been returned, according to the Reserve Bank of India.As of May 19, 2023, 98.12% of the Rs 2,000 banknotes in circulation have been successfully returned, according to a major report from the Reserve Bank of India (RBI). In order to address concerns about counterfeit money, tax fraud, and general currency management, the government decided to gradually remove the Rs 2,000 notes from circulation. This figure comes after that decision.
Principal Aspects of the RBI Report:
Date of Withdrawal: In May 2023, the RBI began the process of withdrawing the Rs 2,000 banknotes, and the notes were due back in September 2023.
Return Rate: 98.12% of the Rs 2,000 in total banknotes, or Rs 3.56 lakh crore, have been redeposited into the banking system as of the most recent statistics.
Outstanding Notes: Out of all the cash in circulation, a little portion—roughly 1.88%—remains outside the banking system. This percentage is not out of the ordinary.
