Facility of Rs 2000 notes exchange not available on January 22 : informs RBI
Facility of Rs 2000 notes exchange not available on January 22 : informs RBI
The Reserve Bank of India (RBI) announced on January 19 that due to the government offices’ half-day closure, the option to exchange and deposit Rs. 2000 banknotes will not be available on Monday, January 22, 2024.
But according to a statement from the RBI, operations at the facility will resume on Tuesday, January 23, 2024.
The RBI announced on May 19 2023 that banknotes with the denomination of Rs 2,000 would no longer be in circulation.
When the withdrawal of the currency notes was announced on May 19, 2023, the total value of Rs 2,000 bank notes in circulation was Rs 3.56 lakh crore. As of December 29, 2023, the value had decreased to Rs 9,330 crore.
By December 29, 2023, as much as 97.38 percent of the high-value currency that was in circulation on May 19, 2023, had been brought back into the banking system.
November 2016 saw the introduction of the Rs 2,000 bank notes, following the nationwide bank notes demonetization where the then-current Rs 1,000 and Rs 500 bank notes were replaced.
