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2000 rupee bank note: It has been more than a year since the Rs 2000 note went out of circulation. But not all the notes have come back from the market yet. According to the information given by the Reserve Bank of India, 98.04 percent of the Rs 2000 bank notes have returned to the banking system. Even now Rs 6970 crore is with the public. On 19 May 2023, RBI announced the withdrawal of Rs 2000 bank notes from circulation. This raises the question that even though more than a year has passed, why people are not returning Rs 2000 notes.
The note was withdrawn in May 2023,
At that time, the decision to withdraw the notes was taken on May 19, 2023, RBI said. At the time of close of business, Rs 2000 bank notes worth Rs 3.56 lakh crore were in circulation. The value of notes in circulation at the close of business on October 31, 2024 was Rs 6,970 crore. According to the statement, till May 19, 2023, 98.4 percent of the Rs 2000 notes in circulation have been returned. The facility to deposit or exchange notes was available in all bank branches till 7 October 2023. This facility is now available in 19 regional offices of the Reserve Bank.
In November 2016, the Reserve Bank of India (RBI) issued a new Rs 2000 note. the purpose of which was to immediately eliminate the shortage of money in the country This decision has been taken after removing old notes of Rs 500 and Rs 1000 from circulation. Its objective was to immediately remove the shortage of money in the country. RBI had said that the need for Rs 2000 notes will reduce when notes of other denominations are sufficient in the country. Therefore, printing of Rs 2000 notes was stopped in the year 2018-19. After this, in 2023, RBI announced to withdraw these notes from circulation.
Why have the entire notes not been returned yet?
There could be many reasons for not returning all the Rs 2000 notes. There is no official reason for this. It is expected that some people may have recovered black money amounting to Rs. 2000 notes so they cannot deposit them in banks. Second, it is also possible that some notes may have been lost, torn or damaged during the seven years. Due to this also he could not deposit in the bank. It is also believed that some notes may be with Indians living abroad and hence it may take time to bring them back.