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Three-fourths of ₹2000 notes in circulation returned to banks: Govt

Three-fourths of ₹2000 notes in circulation returned to banks: Govt





Three-fourths of Rs 2000 notes returned to banks: Govt mint

₹2, Reserve Bank of India, withdrawal, Union Minister of State for Finance, surprise move, circulation, deposit, exchange, clean note policy, government, demonetise, high value currency, deadline, currency notes, deposit, exchange, price terms, 84,000 crore, announced”/>₹2, Reserve Bank of India, withdrawal, Union Minister of State for Finance, surprise move, circulation, deposit, exchange, clean note policy, government, demonetise, high value currency, deadline, currency notes, deposit, exchange, price terms, 84,000 crore, announced”/>











Three-quarters of Business News/News/India/ Conventional Rs 2000 note back in banks: Govt
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In a surprise move, the RBI announced the withdrawal 2,000 notes from circulation but gave time till September 30 to the public to deposit such notes in accounts or exchange them at banks.

The conventional Rs 2000 note is back in the banks. (Photo: Mint)” title=”Three-4th of The conventional Rs 2000 note is back in the banks. (Image: Mint)”>
Three quarters The conventional Rs 2000 note is back in the banks. (Photo: Mint)

New Delhi: Indian banks have got 2.72 trillion worth 2,000 banknotes till June 30, Union Minister of State for Finance Pankaj Chowdhury said in a written reply to a question in the Rajya Sabha after the Reserve Bank of India (RBI) announced their withdrawal on May 19.

New Delhi: Indian banks have got 2.72 trillion worth 2,000 banknotes till June 30, Union Minister of State for Finance Pankaj Chowdhury said in a written reply to a question in the Rajya Sabha, after the Reserve Bank of India (RBI) announced their withdrawal on May 19.

In a surprise move, the RBI announced the withdrawal 2,000 notes from circulation but gave time till September 30 to the public to deposit such notes in accounts or exchange them at banks.

In a surprise move, the RBI announced the withdrawal 2,000 notes from circulation but gave time till September 30 to the public to deposit such notes in accounts or exchange them at banks.

Further, the minister said, the stock of other denomination notes is going to be sufficient to meet the currency needs of the people.

Further, the minister said, the stock of other denomination notes is going to be sufficient to meet the currency needs of the people.

“In view of the above and in pursuance of RBI’s “Clean Note Policy”, RBI has decided to withdraw 2000 denomination notes from circulation,” he added.

“In view of the above and in pursuance of RBI’s “Clean Note Policy”, RBI has decided to withdraw 2000 denomination notes from circulation,” he added.

Earlier on Monday, the government clarified that no proposal to extend the exchange date is under consideration 2,000 notes after September 30. It also said there are no plans as of now to devalue the high-value currency.

Earlier on Monday, the government clarified that no proposal to extend the exchange date is under consideration 2,000 notes after September 30. It also said there are no plans as of now to devalue the high-value currency.

“Currently, this matter is not under consideration,” Finance Minister Pankaj Chowdhury said in a written reply when asked if the government intends to extend the exchange deadline. 2000 note in the bank even after 30th September.

“Currently, this matter is not under consideration,” Finance Minister Pankaj Chowdhury said in a written reply when asked if the government intends to extend the exchange deadline. 2000 note in the bank even after 30th September.

According to the RBI, as many as 76 percent 2,000 currency notes in circulation are either deposited or exchanged at banks.

According to the RBI, as many as 76 percent 2,000 currency notes in circulation are either deposited or exchanged at banks.

In terms of value, 2,000 note has come down in circulation 84,000 crore from June 30 3.56 lakh crore on May 19, the day the withdrawal was announced.

In terms of value, 2,000 note has come down in circulation 84,000 crore from June 30 3.56 lakh crore on May 19, the day the withdrawal was announced.

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Updated: 25 July 2023, 07:18 PM IST

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