2000 rupees notes still left to be returned, 8470 crore rupees worth of notes still with public: RBI

MUMBAI: The Reserve Bank stated that 97.62 percent of the withdrawn Rs 2,000 notes have been returned. RBI also informed that 8470 crore rupees notes are still with the public.
RBI withdrew the Rs 2000 note on 19 May 2023. The total value of notes in circulation at that time was 3.56 lakh crores. In a statement, the RBI stated that Rs 2,000 notes of Rs 8,470 crores are due on February 29, 2024.
RBI stated that Rs 2000 notes will remain legal tender and people can deposit and exchange Rs 2000 notes through 19 RBI offices in the country. It has also been announced that Rs 2000 notes can be sent to the RBI office from any post office through India Post and transferred to bank accounts.
Initially, the RBI had asked that Rs 2,000 notes be exchanged or deposited in bank accounts by September 30, 2023. However, the deadline was later extended to October 7, 2023. Meanwhile, the deposit and exchange of Rs 2000 in bank branches was stopped by October 7, 2023. From October 8, 2023, individuals have been given the facility to exchange currency at 19 offices of RBI and credit the equivalent amount to their bank accounts. 2000 rupee note was released in November 2016 after banning 1000 and 500 notes.