The Reserve Bank said 97 per cent of the Rs 2,000 notes have returned to the banking system so far. In this case 3 per cent of the notes are yet to come back. On March 1, the RBI had informed that the upcoming Rs 2,000 notes were worth around Rs 8,470.
On May 19, 2023, the Reserve Bank announced the rollback of Rs 2000 notes from the market. The circular was issued on how people can deposit Rs 2000 notes. Since May 19, 2023, rs 2,000 notes have been exchanged in 19 issue offices of the RBI.
Along with this, the facility of exchange of Rs 2000 notes was also given to any issue office of the Reserve Bank from any post office in the country. This money was deposited in the bank account of that person.
RBI has 19 offices in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram. The note exchange deadline was given till September 30, 2023.
Later, however, this period was extended till October 7. Banks had stopped taking Rs 2,000 notes from October 7. The Reserve Bank of India (RBI) said that a person can exchange rs 2,000 notes in a post office or reserve bank office up to Rs 20,000.
In 2023, it had announced the refund of Rs 2000 notes. In November 2016, rs 2,000 notes were first released during note ban.