Nearly one-and-a-half years after the Reserve Bank of India (RBI) revealed withdrawal of 2,000 faith banknotes on May 19, 2023, the whole value of banknotes which have truly but not been returned stands at 6,977.6 crore as on Oct 31, 2024, reveals the RBI info.
The most present info disclosed that the cash banknotes which have truly at the moment been returned encompass 98.04 p.c of the 2000 banknotes in stream as on May 19, 2023.
This suggests, the proportion of banknotes which have truly nonetheless not been returned are 1.96 p.c of the whole value which stood at 3.56 lakh crore as on May 19, 2023.
Ever as a result of RBI revealed the withdrawal of 2,000 faith banknotes from stream in May in 2014, the standing of withdrawal is often launched. The final information launch hereof was launched on October 01, 2024 when the cash in stream stood at 7117 crore.
In one month, this has truly minimized to 6,977.6 crore.
After demonetisation
The 2000 faith banknote was introduced in November 2016 primarily to satisfy the cash demand of the financial state of affairs after the withdrawal of 500 and 1000 banknotes in stream again then.
The aim of presenting 2000 banknotes was fulfilled when banknotes in numerous different religions appeared in enough quantities. Therefore, printing of 2000 banknotes was dropped in 2018-19. About 89 p.c of the 2000 faith banknotes had been supplied earlier than March 2017 and go to completion of their approximated life-span of 4-5 years.
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The full value of those banknotes in stream decreased from 6.73 lakh crore as on March 31, 2018 (after they made up 37.3 p.c of notes in stream) to 3.62 lakh crore making up simply 10.8 p.c of notes in Circulation on March 31, 2023.
How to trade 2,000 notes: Step- by-step overview
1. Visit RBI office in New Delhi with the cash and convey your aadhaar along with a duplicate to be turned over. If the amount is bigger than 50,000, you require to deliver a frying pan and a duplicate of the preliminary file.
2. Show your data on the entrance entrance the place you’ll definitely be provided a kind by which the person at work will definitely create the number of notes to be traded.
3. You will definitely not be allowed to deliver a bag message this issue. So, down fee the bag or laptop computer laptop at eviction the place you’ll definitely be provided a token.
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4. Enter the cellar office with the sort the place you’ll definitely have to load the staying part of the sort and procure it marked from the RBI’s authorities.
5. Once the sort is submitted, approved and marked, you possibly can at the moment get within the main construction of RBI from the first entry the place you would definitely be assisted to the house window the place trade of notes is completed.
6. It’s at this dwelling window, you possibly can flip over the sort, duplicate of aadhaar and the cash notes. In return you’ll definitely be provided the comparable amount of cash notes.
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