The Reserve Bank of India announced that 98.45 per cent of Rs 2,000 banknotes withdrawn from circulation since May 2023 have been returned. Exchange facilities remain open at RBI offices and via India Post, while the notes continue to be recognised as legal tender.
According to RBI data, Rs 2,000 denomination banknotes worth Rs 5,817 crore remain in circulation. Since their withdrawal announcement in May 2023, 98.37 per cent of the notes have been returned. The Rs 2,000 notes continue to be legal tender, the RBI clarified.
It has been observed that in Telangana and Andhra Pradesh, there appears to be reluctance among traders/small businesses and members of the public to accept Rs.10 coins
