2000 Rupees Note To Be Demonetized , RBI’s Big Update

RBI has issued an update on the circulation of 2000 rupee notes

2000 Rupees Note To Be Demonetized , RBI’s Big Update : RBI has issued an update on the circulation of 2000 rupee notes, in which the Governor of the Reserve Bank of India said that 2000 rupee notes will not be in circulation for long. But, it will remain a legal tender.

The Reserve Bank of India has issued a major update regarding the 2000 rupee note. RBI Governor Sanjay Malhotra said on Thursday that 2000 rupee notes will no longer be in circulation for long. But they will remain legal tender. That is, the notes will not be illegal. They can be deposited by going to the RBI office.

According to ANI report, RBI Governor has given an update on the note in the meeting of Parliamentary Standing Committee. In the meeting, many MPs asked questions about the circulation of 2000 notes, in response to which Sanjay Malhotra said that the notes will not be seen in the market for long. However, their legal tender will remain intact.

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There are so many notes in the market
RBI had announced a year ago that it is withdrawing the Rs 2000 note. However, despite this, according to a PTI report, notes worth Rs 6,099 crore are present in the market as of July 1. The regulatory bank had announced the return of the notes on May 19, 2023. Since then, the bank is also giving information about the notes returned from time to time.

When did notes start
The new Rs 2000 note was issued by the RBI in 2016 after demonetizing Rs 500 and Rs 1000 notes. The general public can return Rs 2000 notes from any post office in the country to any RBI issue office through Indian Post and get the equivalent amount deposited in their bank account. RBI said that by December 2024, about 98.08% of the notes have been returned. The total value of these notes has come down from Rs 3.56 lakh crore on 19 May 2023 to Rs 6,839 crore by 29 November 2024.

You can deposit notes here
When the Reserve Bank of India announced the withdrawal of the Rs 2000 note, the general public was given time till 7 October 2023 to deposit or exchange Rs 2000 notes in any bank branch. After that, from 9 October 2023, this facility has been limited to 19 designated RBI issue offices across India. Now customers can deposit notes by visiting RBI offices in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.