Over 97% of Rs. 2,000 banknotes returned to banks: RBI


Content Team
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On November 1, the Reserve Bank of India (RBI) revealed that over 97% of Rs. 2,000 banknotes in circulation have been returned to the banking system. Consequently, the total value of these notes in circulation amounted to Rs. 0.10 lakh crore as of October 31. The RBI had chosen to remove the Rs. 2,000 denomination banknotes from circulation on May 19, referring to its "Clean Note Policy" and the infrequent use of this high-denomination note.