Bhubaneswar: Most of the Rs.2000 notes are seems to be white.

As per the Reserve Bank of India report, 87% of notes returned so far to the banks have been in the shape of deposits.

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, said a RBI release on Monday.

Given the trend of return of notes so far, the withdrawal of Rs. 2000 notes from circulation is expected to be completed before the September 30,2023 deadline.

The total value of Rs2000 bank notes has come down to Rs.84,000 crore by June 30,2023 from Rs.3.62 lakh crore when the withdrawal release was issued in May.

According to the data received from the banks, the total value of ₹2000 banknotes received back from circulation after the announcement on May 19 is ₹2.72 lakh crore up to June 30, 2023. Consequently, ₹2000 banknotes in circulation as at the close of business on June 30 stood at ₹0.84 lakh crore. Thus, 76% of the ₹2000 banknotes in circulation as on May 19, 2023 have since been returned.

The RBI Monday urged the public to utilise the next three months to deposit and/or exchange the ₹2000 banknotes held with them to avoid any rush in the last few days before September 30, 2023.

The Rs.2000 bank notes are being withdrawn from circulation by the Reserve Bank of India vide it’s press release dated May 19, 2023. The total value of ₹2000 bank notes which amounted to ₹3.62 lakh crore on March 31, 2023 had declined to ₹3.56 lakh crore as at the close of business on May 19, 2023.