Informist, Monday, Nov. 4, 2024

NEW DELHI – The Reserve Bank of India received INR 1.47 billion worth of INR 2,000 banknotes in October, bringing down the total value of the highest-denominated banknote in circulation to INR 69.70 billion as of Thursday from INR 71.17 billion at the end of September, the central bank said Monday.

The value of INR 2,000 notes in circulation was INR 3.56 trillion on May 19, 2023, when the central bank announced their withdrawal. The RBI has received 98.04% of INR 2,000 banknotes as of Thursday, the central bank said in a release.

The INR 2,000 notes continue to be legal tender, the RBI said. The banknotes were allowed to be deposited or exchanged at bank branches till Oct. 7, 2023. Now, the facility is only available at the 19 RBI issue offices nationwide. End

Reported by Shubham Rana

Edited by Rajeev Pai

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