08 Jun 2023, 14:25
Around 50% of India's ₹2,000 bank notes have returned to banks, according to Reserve Bank of India (RBI) Governor Shaktikanta Das. The bank says around 85% of the notes are coming back as bank deposits, while the average system liquidity remains in surplus mode, further adding that half of India's ₹2,000 bank notes circulating are now with banks. Although demonetised on 19 May, ₹2,000 bank notes remain legal tender and may be exchanged or deposited at banks until the end of September. RBI statistics revealed that, as of 31 March, ₹3.62tn of ₹2000 banknotes were in circulation.